Bernie's Penthouse: Not Such a Hot Property, After All

A couple of weeks ago, there was talk that Bernie Madoff's penthouse on East 64th Street could sell for as much as $8 million when it hits the market. (It's not officially up for grabs yet, although several brokers have been asked to assess its value in anticipation of a sale.) It seems the $8 million figure, though, doesn't factor in the fact that prospective buyers would be purchasing it from the devil himself, even though the proceeds would go to victims of Madoff's alleged scheme.

"It's like when you see an apartment and find out somebody shot themselves in it," Michele Kleier of Gumley Haft Kleier tells The Real Deal. "I don't know of anyone who would want to live in an apartment with the history of what he's done." For whatever reason, that same uneasiness doesn't seem to apply when it comes to Madoff's home in Montauk: "There are people already coming out of the woodwork to see if they can pick it up," reports a broker. One big difference, of course, is that prospective buyers in Montauk won't have to worry about seeing Madoff padding around in his bathrobe when they tour the home, although it's also worth noting that they won't get a chance to bump into Matt Lauer in the elevator either.

Eyeing Madoff's homes [The Real Deal]
Related: Inside Bernie's Lair, Bernie Madoff: The Floorplan, Madoff Penthouse May Be Market-Bound