The Real Deal Miami

Madoff home sees price cut

April 29, 2011 01:15PM

Bernard Madoff’s sister-in-law, Marion Madoff, has cut the
price of her Palm Beach home by 9 percent to $5.9 million. The
five-bedroom, five-bathroom home, which is listed by Sotheby’s
International Realty, is located at 200 Algoma Road, and was originally
placed on the market in January. It was purchased by Peter Madoff for
$3.7 million and ultimately placed in Marion’s name. According to the
Palm Beach County Property Appraiser, the market value of the home is
$3.6 million. [Palm
Beach Post]