Bernie Madoff’s former Montauk estate lists for $21M

When the estate was seized by the government in 2009, it sold for above ask immediately after going on the market

By Grace Cassidy Apr 12, 2018, 8:47am EDT

The Montauk home that once belonged to famed fraudster Bernie Madoff has just come on the market for $21M at 216 Old Montauk Highway.

Madoff purchased the property back in 1980 and finished building the home two years later before the government seized it in 2009. The same year, it was listed for $8.75 million and sold for above ask just a month and a half later for $9.4 million to Vornado Realty Trust founder and chairman, Steve Roth, and award-winning theater producer, Daryl Roth.

The Roths recruited renowned architect, Thierry Despont, to complete the renovation of the estate, which now features a double-height great room with a 30-foot high stone fireplace, floor-to-ceiling windows, a curved sitting area with ocean views, and a state-of-the-art kitchen.

In addition to the master suite—which is accessed by its own private staircase, has a private oceanside deck, and features heated Travertine floors in the bathroom—there are two more bedrooms and two more bathrooms in the 3,000-square-foot home.

Sited on an acre and a half of oceanfront land on a protected bluff, the house wouldn’t be allowed to be built today due to zoning restrictions. Outside, there’s a new heated free-form gunite pool, cabana, and 180 feet of direct ocean frontage.

The furnishings could be available to sale as well for those who want a totally turnkey Hamptons home. The estate is listed under Corcoran Group’s Gary DePersia and Joan Hegner.