Imprisoned and disgraced financier/Ponzi schemer Bernard Madoff's four-bedroom, 3,014-square-foot beach house on Long Island is set to be put up on the market this week by the U.S. Marshals service, which seized the property from Madoff on July 1.
The news is all over the Internet today, so we know we're not exactly sharing "new news" with some of you. However, we wanted to weigh in on his beach house at 216 Old Montauk Highway in Montauk, which Madoff had owned since 1979 or since 1981, depending upon which source one consults. And, we wanted to share a collection of photos of the place as well.
The Associated Press recently got a tour of the estate (which is why the news of its upcoming listing is all over the wires), and the AP noted that the 1.2-acre lot sits closer to the shore than larger neighboring homes. The AP also remarked that the house has a grand, columned porch with terrific, panoramic views of the Atlantic Ocean, and that federal marshals believe the property could be worth as much as $8 million. For what it's worth -- and it's probably not much -- Madoff himself had stated in a court filing last year that he thought it was worth $3 million.
Other features in the house include three baths, a second-floor entrance that leads to a small master bedroom with a private terrace, a staircase that descends to a living room with vaulted ceilings, exposed beams and a stone fireplace. The house has a "tired set of leather couches, kitchen appliances and bathroom fixtures" that "appear to date to the 1980s," the AP noted. Outside are a small swimming pool overlooking the ocean, a private path that winds to the beach through pine trees, and a porch, the AP reported.