Peter Madoff's Long Island Home Sells for $3.5 Million
The five-bedroom, five-bath Old Westbury colonial had been on the market for years. The tainted Madoff name didn't help the sales price, which started at $6.5 million in 2011. The house was briefly delisted in February 2013 and returned to the market a few months later for $4.495 million. It eventually dropped to $3.199 million, received multiple offers and finally sold for $300,000 above the listing price.
The stucco house has hardwood floors, high ceilings edged by massive crown moldings, and silk drapes framing floor-length windows, according to the listing. Other features include:
- Four acres on the edge of the Glen Oaks Country Club and golf course
- Expansive public rooms
- Billiard room
- Tennis court
- Pool and guest house.
Bernie's former Manhattan penthouse -- where he lived while under house arrest -- sold for $8 million in 2010 and again last year for $14.5 million. His Montauk estate on the tip of Long Island sold for $9.41 million in 2009.