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It Happened One Weekend: Madoff's House Sells for $9.41M

1) Late Friday news came that the sale of Bernie Madoff's Montauk oceanfront has closed for $9.41 million. Still no named buyer, but the price proves that those Marshals weren't kidding around about getting the most money they could for the home. Well-surpassing the $8.75 million asking price, the all-cash deal is the first of Madoff's three homes to sell as his Manhattan penthouse and Palm Beach spread still sit on the market. With that we say, welcome to the neighborhood, new owner of 216 Old Montauk Highway! May that pebble fireplace please you for many years. [WSJ]

2) Quite the spectacle went down in Water Mill yesterday as police dealt with a mentally ill man who had barricaded himself inside a home. The highly intoxicated 34 year old was surrounded by hunting weapons and swinging a baseball bat while threatening to commit suicide, but was subdued when police were able to sneak inside the house. [SH Press]