The Real Deal Miami

Corcoran marketing Madoff’s Palm Beach home for $8.5M

By Candace Taylor | September 10, 2009 10:46AM

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From left: listing agents Burt Minkoff and Jim McCann of the Corcoran Group, Madoff’s Palm Beach property

The Corcoran Group, which is marketing Bernard Madoff’s oceanfront home in Montauk, NY, has also been chosen to sell the disgraced financier’s five-bedroom home in Palm Beach.

Jim McCann and Burt Minkoff, who are based in Corcoran’s Palm Beach office, have been chosen by the U.S. Marshals Service to handle the sale.

The home, located at 410 North Lake Way, is a 8,753-square-foot, five-bedroom home listed for $8.5 million. Situated on the Intracoastal Waterway, it has deep-water dockage and “lush tropical landscaping providing residents’ privacy,” according to a press release from Corcoran.

Corcoran agent Joan Hegner is handling the sale of Madoff’s 3,000-square-foot beachfront home in Montauk, which went on the market Sept. 1 for $8.75 million.

The Montauk property has received “immediate qualified buyer interest” since coming on the market, Corcoran President and CEO Pamela Liebman said in a statement.

For both properties, Corcoran plans to donate its commission to the fund for reimbursement of Madoff victims.

Marshals picked Anne Corey and Serena Boardman of Sotheby’s International Realty to handle Madoff’s Manhattan penthouse.

Got a tip? E-mail Candace Taylor at ct@therealdeal.com.