Madoff’s Former Montauk Home Back on the Market
Just listed by Corcoran is 216 Old Montauk Highway, currently owned by Vornado Realty Trust founder and chairman, Steve Roth, and multi- award-winning theater producer Daryl Roth. The home came to national attention in 2009 as the former home of Bernie Madoff, who perpetrated the largest financial fraud in US history.
The property was purchased by the Madoffs in 1980 and construction of the home was completed in 1982. It was seized by the government in 2009 and put on the market with Corcoran representing the property when it was purchased by the Roth’s.
This home is an extraordinary rarity – it literally sits on the beach on a protected bluff with a path to the extremely private beachfront. Zoning no longer allows houses to be built on the beach so this property offers a buyer the rare opportunity to own the ultimate beach house – with 180 feet of direct ocean frontage – another rarity. 216 Old Montauk Highway is a 3,000-square foot, three-bedroom home on 1.5 acres with a dramatic gunite pool overlooking the Atlantic ocean and pool cabana.
The sellers undertook an extensive renovation and totally recreated the home with the world-renowned architect and designer Thierry Despont. It was featured in Architectural Digest where inspiration for the completely new design was discussed. Now on the market for $21 million, the home is once again being marketed by Corcoran with agents Gary DePersia and Joan Hegner (for the second time) representing the property.
Photos courtesy Corcoran & Chris Foster