Real Estate

Bernie Madoff’s penthouse pulled from market: No patrons

The three-bedroom, three-and-a-half-bathroom property at 133 E. sixty fourth St. on the Higher East Aspect sat in the marketplace for 7 months with out a proposal, in response to a report.

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Infamous fraudster Bernie Madoff’s Manhattan penthouse was taken off the market after failing to draw a purchaser, in response to a report.

The three-bedroom, three-and-a-half lavatory property at 133 E. sixty fourth St. on the Higher East Aspect, sat in the marketplace for seven months with out a proposal, in response to the New York Publish.

Actual property investor Lawrence Benenson bought the property for $14 million in 2014, together with the adjoining property for $4 million, and listed them final 12 months for $18.5 million — a price ticket that might have solely helped him break even.

The most recent try marks the third time the penthouse has gone up on the market since Madoff’s arrest on Dec. 11, 2008, for the biggest Ponzi scheme of all time, through which Madoff defrauded his purchasers of almost $65 billion.

Madoff died in jail of pure causes in April 2021 at age 82 whereas serving a 150-year sentence.

Toy mogul Alfred Kahn was the primary purchaser to buy the pad after Madoff’s arrest, spending $8 million on it in 2010, in response to property information. In 2013, Kahn put it again in the marketplace for $17.25 million.

The Publish notes that the latest itemizing with John Burger of Brown Harris Stevens might have taken some steps to hide the unit’s historical past. Its label was switched from Penthouse A to Penthouse S, and the house’s earlier somber decor, most well-liked by Madoff, was switched out for vibrant white fashionable decor.

Madoff lived within the residence along with his spouse Ruth Madoff from 1984 up till his arrest, even turning into president of the buildings co-op board.

Madoff was a prolific collector of luxurious actual property previous to his arrest, with different properties of his in the marketplace additionally struggling to promote. Madoff’s Hamptons property has been in the marketplace on and off for years, first itemizing in 2018 for $21 million, then itemizing once more for $22.5 million earlier than receiving a large worth lower. It’s now on sale for $16.5 million.

For extra in regards to the fraudster watch MADOFF: The Monster of Wall Avenue, accessible on Netflix, which follows the small print of his rise and fall.

Electronic mail Ben Verde

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