If you love cozy modern beach houses and the sounds of crashing waves — and don’t mind a touch of bad juju in your home — check out notorious Ponzi prince Bernie Madoff’s former pad.
It’s back on the market for $17.9 million — down from its 2018 asking price of $21 million. That’s still far more than the $9.41 million that the current owners — developer Steve Roth and his wife, theater producer Daryl — paid for it in 2009, when they bought it from the feds. The money from the sale was used to pay off some of the more than 24,000 victims in Madoff’s $65 billion investment scam.
The gated beach house, at 216 Old Montauk Highway, is 3,000 square feet on the dunes — impossible to build on now — with views of the Atlantic Ocean. The getaway has three bedrooms, and 3 ½ baths on 1.5 acres. The bungalow, which has 180 feet of beach frontage, was renovated in 2011 by top architect Thierry Despont. It is anchored by a stunning two-story great room with barrel-vaulted ceilings and an old school stone fireplace, along with sliding glass doors that bring the ocean inside. The eat-in chef’s kitchen opens to an outdoor patio for al fresco dining.
The main bedroom suite comes with its own oceanfront deck, two walk-in closets and a spa-like bathroom with a separate balcony. There’s also a pool, a cabana and wraparound decking.
The Madoffs bought the bungalow for $250,000 in 1980, according to reports. Madoff has since traded his ocean views for a federal prison in North Carolina where he is serving out a 150-year sentence. The listing broker is Christopher Coleman of Compass.
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