Madoff properties attracting potential buyers


With reports that Madoff's 3,000-square-foot beach house on Montauk may have a buyer by Friday, U.S. marshals have begun publicizing his Palm Beach house, Manhattan penthouse and boats. A realtor for the property in Montauk told the New York Times that there were 23 showings to potential buyers over the Labor Day weekend.

The Montauk home was put on the market at $8.75 million on September 1 and 70 real estate brokers visited the home for an open house on September 3. The realtor would not disclose how much was offered for the home. But the good news for Madoff victims is that with this intense interest in Madoff properties, the government may get more for the properties than originally anticipated, which means more money can be doled out to the victims.