Steven Roth identified as buyer of Madoff’s Montauk home

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From left: Steven Roth, Bernard Madoff, the Montauk property

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The buyer who paid $9.4 million for Bernie Madoff’s four-bedroom, three-bathroom Montauk home was Steven Roth, chairman of Vornado Realty Trust, the Wall Street Journal has learned. The original asking price of the 3,000-square-foot beach-front property, which was on the market for two weeks and which closed last Friday after bringing in four bids, was $8.75 million. The sale will go toward repaying the victims of Madoff’s Ponzo scheme. Joan and Richard Hegner of the Corcoran Group had the listing, and Roth was represented by Sotheby’s International Realty’s Ed Petrie. [WSJ]

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