The Real Deal Miami

Eyeing Madoff’s homes

By David Jones | February 23, 2009 11:52AM


From the February New York issue:
With Bernie Madoff in the crosshairs of federal prosecutors for his alleged $50 billion Ponzi scheme, real estate insiders are not only speculating about his fate as a free man, but also are buzzing about what’s going to happen to all of his properties and assets. Madoff was ordered late last year to turn over a detailed list of his personal assets to federal officials. And while the full list has not been made public, it’s no secret that Madoff owns a slew of homes, boats, cars and other luxury items that could soon go on the auction block. Madoff, a former chairman of Nasdaq, has been under house arrest at his $7 million penthouse at 133 East 64th Street since December. Among his neighbors at the 11-story co-op is “Today” show co-host Matt Lauer, who bought a sixth-floor apartment in 2004 for $5.88 million. Legal sources say Madoff’s apartment would likely be sold at auction once his case is adjudicated, which could take months, if not years, to resolve. And, late last month, the New York Post reported that several brokers had been asked by lawyers working for a court-appointed trustee to visit the apartment and assess its value. The paper also reported that the apartment is technically owned by Madoff’s wife, Ruth.