Help Bernie Madoff’s victims: Buy his Palm Beach home listed for $8.5 million

Posted by Annalisa Burgos | October 2, 2009

bernie-madoff-palm-beach-house-for-saleFrom our Cool Houses Daily files:

Another one of disgraced stockbroker Bernie Madoff’s properties is on the market — this time in Palm Beach, Florida.

Just months after Madoff was sentenced to a 150-year prison term, the Palm Beach home he owned with wife Ruth is up for sale for just under $8.5 million.

Like his Hamptons property, which sold in mid-September, the home is relatively bare inside since U.S. Marshalls have cleared out the Madoff’s furnishings and personal belongings to sell at auction.

The rest of the furniture will be cleared out when a lucky buyer wins this unfortunate historical icon. All the profits from the sale of the home will go towards restitution for the victims of Madoff’s Ponzi scheme.

The listing touts the property as “a return to classic Florida island living,” and something about the property’s casual furnishings and landscaping are reminiscent of days gone by.

The home was purchased and renovated in the early 90s by developer Michael Burrows, so it does include fairly recent updates and some of his classic features: a 22-foot Cypress beamed ceiling with stainless steel hardware, a Honduran Mahogany front door, and large rooms with high ceilings. The home also has enough closets to fit even a Ruth Madoff-sized wardrobe.

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