Asking prices for the homes once occupied by Bernard Madoff, serving 150 years for a massive Ponzi scheme, have been cut after two months on the market.
The price of his 8,750-square-foot Palm Beach, Fla., mansion was reduced 7 percent to $7.9 million, according to Corcoran Group, which listed the property.
The asking price on Madoff’s 4,000-square-foot duplex in Manhattan has been cut 10 percent to $8.9 million, according to Sotheby’s International Realty, which listed that property.
Sale proceeds will be used to reimburse victims of Madoff’s estimated $65 billion Ponzi scheme.
Source: Reuters News
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