The Housing Market Must be Recovered
...if Bernie Madoff's crib goes up for $10 mil.
Multiple bidders have made offers on Bernard L. Madoff’s Montauk beach house, and a buyer might be announced by the end of the week, a listing agent said.
“It has been very busy,” said Joan Hegner, an agent with the Corcoran Group.
The 3,000-square-foot oceanfront house on the dunes in Montauk went on the market for $8.75 million on Sept. 1, and 70 real estate brokers showed up for an open house two days later.
Over the Labor Day weekend, there were 23 showings to potential buyers, Ms. Hegner said.
She declined to say how much was offered for the house, but the intense interest bodes well for the sale of other Madoff properties, including the Manhattan penthouse where Mr. Madoff was under house arrest, and a house in Palm Beach, Fla. Both of those properties could go on the market as soon as this week, said Roland Ubaldo, a deputy United States marshal.
I guess the irony of "Corcoran" being the name of a California prison might be lost on dear reader unless you watch too many hours of MSNBC's Lockup.