The Real Deal Miami

Exclusive condo hotbed for Madoff scam

February 17, 2009 11:53AM

The Palm Beach address of 2 Breakers Row will be better known for the money its occupants lost than the tony address — at least eight investors in the 48-unit complex were victims of the alleged $50 billion Ponzi scheme. Other Palm Beach complexes also paid a heavy price. At the 200 Bradley Place condominium, owners of seven of the 44 units were Madoff investors. They included Gail and Melvin Nessel, for whom a wing of the Norton Museum of Art is named. On Los Incas Way, five of the 10 mansion owners were Madoff clients.