Who needs good karma when you have a terrace?

New York /
Apr.April 07, 2010 02:29 PM
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]


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