Madoffs Luxury Properties Reduced in Price

The asking price on Bernie Madoffs various properties for sale was reduced this week. After just two months on the market, the Manhattan apartment has been reduced by 10% or $1 million to $8.9 million, and the Palm Beach Mansion reduced by 7%.

Sothebys International describes the Manhattan luxury apartment as, Perched atop a distinguished white-glove prewar cooperative, this 9 into 7 room duplex penthouse affords spectacular views of the Manhattan skyline. The beautiful residence boasts an impressive Gallery with an elliptical staircase, a grand Living Room with triple exposures and an elegantly proportioned Dining Room. These sun-flooded rooms feature French doors that open onto a tremendous wrap-around planted and irrigated terrace. Adjacent, the large and well-appointed chefs Kitchen incorporates a Breakfast Room and Staff Room with bath. Downstairs the private quarters include a very gracious corner Master Suite with a huge walk-in closet and an over-sized marble bathroom. Beyond there is a cozy Library featuring custom built-ins and an en-suite bathroom plus another Bedroom with an en-suite bathroom and ample closet space. Offered in superb condition, the impeccably renovated apartment incorporates herringbone hardwood floors, hand-carved moldings and four wood-burning fireplaces. No mention of Mr Madoff.

Mr Madoffs smaller possesions (some of them) were auctioned off  last week in New York, this video is courtesy AP: Although, as far as I can tell, Mr Madoffs real crime was his choice of customer base. Citibank seem to have gotten away with running exactly the same scheme only to be rewarded with billions in taxpayer money. Makes you wonder.