Bernie Madoff's Beach House Sells For $8.75 Million
An unidentified person has offered $8.75 million cash--more than the asking price--for Bernie Madoff's beachfront home in Long Island. Bidders made sealed offers for the property, and the realtors say they won't reveal any more details until after the deal closes. The house is supposedly very fancy, but if we lived there we'd just tear it up looking for hidden piles of cash. This is why we can never have anything nice.
"Sold! Bernie Madoff Beach House Goes to Contract at $8.75 Mil +" [ABC News] (Thanks to Natalia!)
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Comments:
Does the property include a banana stand? There is always cash in the banana stand!
I am quite surprised to see this sell for over asking price. Maybe there is hidden cash we don't know about.
@Raekwon:
The hidden cash is likely in an offshore account in a tropical country (now that the Swiss accounts are no longer secret).
The good news is they get to keep 20,000 above the asking price as a service fee for wiring the difference to the Nigerian Prince buyer!
Who knew African royalty used the DuPont Registry?
@Notsewfast: haha...
"I would like to offer you the sum of $8.75 million us dollars for the home advertised. My agent in the US will mail you a cashiers check in that amount and will have you send me back a sum of money in the amount of $25,000."
maybe somebody is super nice?
I'm guessing that they know something that the rest of us don't...
@shadow67: The buyer only presented an offer that was $50K more than the asking price. Considering it was an auction of sealed bids, that's not too usual -- hoping they beat out someone who made a full price offer.
Of course, spending almost $9MM for a 3,000 ft2 house is something I'll ever be able to understand or experience.
I wish they'd release details. I am in the process of building a beach house...on the 3rd popsicle but fighting brain freeze.
Man, I was really hoping I would be the first to say "There's always money in the Banana stand!"
Oh well.
Maybe some film company making a movie? Bet they could get some good write-offs then resell the place for a good price.
The house in the picture apparently isn't Madoff's. According to the text next to the picture in the gallery, it's owned by friend of his.
"Jaffe lives three doors down from Madoff in Palm Beach in this waterfront mansion. He has been identified as "a piece of this puzzle" by Massachusetts Secretary of State Robert Galvin, who said, "He obviously could have provided us with a lot more information about how the Madoff empire worked. He declined to do so." When questioned by Galvin, Jaffe took the Fifth Amendment."
Is Madoff still alive? I wonder if his friend bought it .. he probaly included him in one of his schemes and feels he owes him.
& the winner is....Mrs. Bernie Madoff! *crowd cheers*
I hope whoever bought it is going to now have wild parties in that house.
@mac-phisto: Kanye West runs on stage "excuse me, sorry but I just have to say that Charles Ponzi is the Greatest scam artist of all time.. ALL TIME!"
What's Ruth Madoff going to do with this beach house?
might be tearing it up to find cash was the reason some offered more than the asking price.
It would be like a lottery, one tht is worth 8.75 mil :)