2 More Madoff Homes to Hit the Market
As Bernard Madoff whiles away the hours of his 150 year prison sentence in North Carolina, two more of his seized properties may hit the real estate market as early as this week to help pay off victims of his historic $65 billon investment fraud.
CBS News correspondent Armen Keteyian reports that a three bedroom, four-and-a-half-bath penthouse in Manhattan's Upper East Side and an estate in Palm Beach, Fla. were seized by the government back in July along with a New York beach house in the Hamptons and two yachts.
The Manhattan penthouse is being offered for sale by Sotheby's International Realty and the Palm Beach property will be offered for sale by the Corcoran Group, according to the Marshals Service, which selected the real estate firms.
Madoff's vacation home in Montauk, N.Y., was placed on the market earlier this month with the Corcoran Group.
The New York Times reported Tuesday that the home in the Hamptons drew intense interest from prospective buyers over Labor Day weekend - an encouraging sign for the sale of his Manhattan spread and the home in Palm Beach.
The Montauk, New York beach house was listed at $8.75 million on Sept. 1, and has drawn interest from potential buyers from as far afield as Germany, according to The Times.
The U.S. Marshals Service, which is overseeing the sale of all Madoff's property, told the newspaper the Florida house and the Manhattan penthouse could be listed by selected agents before the end of the week.
U.S. Marshals gave guided video tours of both of the homes soon to be put on the market. Standing in the lavishly adorned New York penthouse, a Marshal describes the abode as "4,000-square-foot with seven rooms, three of them being bedrooms."
Keteyian reports that, beyond the panoramic views of New York City, the Manhattan apartment offers a rare glimpse into the man behind the scam.
Madoff had a seemingly insatiable appetite for antiques, art, and all things luxurious; including a $40,000 Steinway piano, a $35,000 Persian rug, and a set of $20,000 tea tables.
The Marshal charged with giving the tour of Madoff's Palm Beach property said it was an 8,700 square foot house with five bedrooms, seven bathrooms and some "nice" views.
Keteyian told Early Show co-anchor Harry Smith that the Federal authorities hope to net $20 million for Madoff's victims from the sale of his homes alone.