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Bernie Madoff’s Former Montauk Home Finds a Buyer

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Bernie Madoff’s Former Montauk Home Finds a Buyer

Montauk, Bernie Madoff
The former home of Bernie and Ruth Madoff sits at 216 Old Montauk Highway, on the ocean in Montauk.
Chris Foster/The Corcoran Group

Bernie Madoff’s Former Montauk Home Finds a Buyer. Disgraced financier Bernie Madoff’s former home on the ocean in Montauk NY, most recently on the market for $16.5 million, is under contract.

The Corcoran Group announced that 216 Old Montauk Highway had found a buyer in a newsletter mailing on Tuesday. No further information was released. A Corcoran representative declined to comment.

Of course, he no longer owned the property. The federal government seized the bungalow-style Montauk home after Madoff’s arrest in December 2008.

As recounted in a recently-released Netflix docuseries, MADOFF: The Monster of Wall Street, Madoff never visited the Montauk house again after the $65 billion investment scam came to light. He spent six months on house arrest in his Manhattan penthouse before pleading guilty.

Montauk, Bernie Madoff
The home enjoys 180 feet of ocean frontage, and is 150 feet from the sandy beach, much closer than current zoning allows.Chris Foster/The Corcoran Group

Madoff’s Montauk Home Last Sold in 2009

Steven Roth, a real estate investor and the founder of Vornado Realty Trust, the largest commercial landlord in New York City, and his wife, theater producer Daryl Roth, bought the property for $9.41 million in 2009 — $660,000 more than the asking price. The proceeds from the sale went into a victim compensation fund to bring some relief to the 24,000 people who lost money in the long-term scam.

The Roths updated the 3,000-square-foot home, which Forbes once quoted a realtor at the time as saying was “a 1980s dump set in a fabulous location.”

The home, just west of downtown Montauk and near Gurney’s Montauk Resort & Seawater Spa, sits on a 1.5-acre property with 180 feet of beach frontage and panoramic views of the Atlantic Ocean. The residence is just 150 feet from the beach, which cannot be replicated because it is no longer allowed under current zoning laws.

Montauk, Madoff
Inside the two-story great roomChris Foster/The Corcoran Group


Montauk, Madoff
A view of the poolChris Foster/The Corcoran Group
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