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In BIG Listings: Madoff's Montauk Estate About to Hit Market











It's time! Bernie Madoff's Old Montauk Highway mansion will be up for sale this week, the first of his three properties to hit the market. The U.S. Marshals will select a broker sometime midweek and officially list the home before Labor Day. CNBC offered up a video tour of the Madoff residence this morning, complete with a Marshal vowing to not sell the home for anything less than its market value, no matter the market. That be-all-end-all price? $7 million, so it seems like the 4 bedroom house will be listed for closer to $8.75 million to get what the government is looking for. Elsewhere in the vid, take a look at the rather hideous pebble fireplace, a random assortment of bad furniture, and the occasional piece of gym equipment, most of which will be put up for auction in the near future.
· Bernie's Beach House [CNBC]