Ruth Madoff, the wife of convicted Ponzi schemer Bernard Madoff, is living in a Boca Raton condominium assessed at $250,000 with her sister, Joan Roman. The condo, which is located in the Broken Sound community, is owned by Joan’s husband Robert Roman. Madoff, who dyed her hair ginger from blonde, has registered a Honda Civic to that address, as seen in the video above. [CBS New York via Sun Sentinel]

Bernard Madoff and his former penthouse apartment at 133 East 64th Street

The couple who bought Bernard Madoff’s Upper East Side penthouse duplex loved the rooftop terrace so much that they decided to look past the co-op’s seamy history. “There just weren’t a lot of penthouses on the market with a lot of outdoor space,” buyer Patsy Kahn, the wife of toy magnate Al Kahn, told the Post. “He was worried about the karma, but I just loved the terrace,” she said.

The Madoff pad was asking $8.9 million, a $1 million price cut off its original listing price and a steal compared to the Time Warner Center condo the Kahns currently reside in, for which they’re asking $33 million. They purchased the 4,000-square-foot apartment at 133 East 64th Street in February for roughly $8 million. Proceeds from the sale will be used to reimburse victims of Madoff’s massive Ponzi scheme.

The Kahns, whose fortune comes from Al’s Cabbage Patch Dolls and Pokémon empires, have been approved by the co-op board, formerly headed by Madoff himself, and are planning to renovate. [Post] [more]

Since seizing Bernard and Ruth Madoff’s apartment at 133 East 64th
Street on July 2, federal marshals have been considering brokers’
proposals to market the unit. The proceeds of the sale will go to the
victims of Bernard Madoff’s Ponzi scheme. Broker John Burger, senior vice
president and managing director at Brown Harris Stevens, offered to
sell the unit pro bono, foregoing a commission that could be 5 or 6
percent of the unit’s sale price. But Burger said he was told
government rules prevented the marshals from accepting pro bono offers.
Burger said the apartment would go on the market for about $7 million. Comments

Ruth Madoff has been eyeing a condo in Trafalgar House at 120 East 90th Street, sources told the New York Post. The only unit on the market in the building is a 481-square-foot one-bedroom, one-bathroom apartment with an asking price of $465,000. A deal between Madoff and federal authorities left her with $2.5 million following her husband’s Ponzi scheme. Ruth Madoff and her husband Bernard Madoff previously lived in a duplex at 133 East 64th Street. That four-bedroom penthouse has been seized by federal authorities, and even brokers who are hoping to appraise the home before it is sold have been unable to get inside.

Brokers are particularly interested in Bernard Madoff’s (left) Montauk home (right, source: East Hampton Star)

Before Bernard Madoff was sentenced to 150 years for fraud yesterday,
the courts began liquidating his real estate portfolio to pay back his
victims. On Friday, three days before Madoff received his sentence, Judge Denny
Chin for the Southern District of New York ruled that U.S. Marshals
could begin selling seized Madoff homes around the world. He and his wife, Ruth, have properties on the Upper East Side and in the Hamptons, Palm Beach, Fla., and France. One property that is generating considerable interest, particularly in
the broker community, is a beachfront getaway in the Montauk section of
the Hamptons that sits unusually close to the ocean and has had
only one previous owner, making details of its layout and appearance
something of a mystery. [more]

As Bernard Madoff heads off to prison to serve a 150-year sentence for a Ponzi scheme, he will give up his penthouse at 133 East 64th Street. That leaves his wife Ruth searching for a new place to live, and she has had trouble finding landlords willing to take her on as a tenant, the New York Post reported today. The proceeds of the Upper East Side co-op sale will go toward paying back the victims of his crimes. When Madoff’s bond was originally put up in December, the co-op was valued at $7 million, but as the housing market continues its downward plunge, Madoff’s victims may find themselves losing out. TRD
[more]

Ruth Madoff — wife of Ponzi schemer Bernard Madoff, who is expected to
be sentenced today — can’t find a new apartment to move into,
according to the Post. Madoff agreed to sell her $7.5 million duplex
co-op on East 64th Street last week as part of a surrender of $80
million in cash and property, but won’t allow brokers inside the duplex
to make their own appraisal of its value, sources said. Madoff is
reportedly looking to rent a new home, but finding that landlords won’t
take her as a tenant. The Post says she has tried using her maiden
name, Alpern, instead of Madoff, but hasn’t had luck with that either. [more]