Will Madoffs Beach House Be A Teardown?
The Madoff sell off continues. We’ve seen one of his boats listed for sale and now his Montauk, New York beach house is set to hit the market this week. CNBC shared with us their peek at the Ponzi-schemers vacation pad. The home at 3,014 square feet isn’t exactly expansive. The contemporary style has an open floor plan but the rooms look a bit squished. The decorating seems a bit sparse. Leather sections face a stone fireplace and the wood floors are garnished with a smattering of small textile rugs. It’s a nice home but it appears to be a bit dated. One thing Madoff’s place does have is a nice 1.2 acre lot with beautiful ocean views and a sense of privacy. Given the propensity for massive rebuilds in the area I’m guessing that Madoff’s home might be bought as a teardown and a new grander home built in its place. To federal regulators last year Madoff valued the house, which be bought in 1979, at $3 million but federal authorities believe it could bring closer to $8 million. The home h