Bernie Madoff’s former New York City penthouse is off the market after seven months without any offers, The Post has learned.
Notorious three-bedroom, 3.5-bathroom property first hit the market Last year combined with an adjacent four-bedroom, three-bathroom unit, for $18.5 million.
Real estate investor Lawrence Benson purchased the home in 2014 for $14 million, along with the adjacent residence, which he bought in 2016 for $4 million.
With an $18.5 million price tag, Benenson was hoping to break even on the sale if he was able to score a buyer.
This is the third time since Madoff’s arrest late on December 11, 2008, that the Upper East Side apartment at 133 E. 64th St. has gone up for sale.
The unit, where Madoff had lived with his wife Ruth since 1984 – and where he also became chairman of the co-op’s board – was confiscated after his arrest, the story of which now the topic is of a new Netflix documentary series.
Toy mogul Alfred Kahn and his then-wife Patsy were the first buyers since Madoff, buying the home in 2010 for $8 million, records show. But three years later, he put the pad back on the market, asking $17.25 million.
During the time he attempted to sell the residence, he was forced to reduce the price. The year it finally went into contract, Kahn and his wife separated and later divorced.
,[Alfred] Worried about karma, but I just loved the terrace,” Patsy told The Post those days.
Just before going to the Kahns’ house, he “Mysterious Fire”.
The listing with John Berger of Brown Harris Stevens may include some attempt to conceal the cooperative entity’s history.
For example, it has been changed from Penthouse A to Penthouse S, and the house has been changed from the somber tones preferred by Madoff to white carpets and furniture.
But this residence is not the only property struggling to sell – with interest rates rising, it has become neither a buyer’s nor a seller’s market.
Madoff’s former Hamptons home is up for sale and he has years on the market, It was first listed in 2018 for $21 million. It last came on the market for $22.5 million. The home received a massive price cut, and is now on sale for $16.5 million.
Madoff died in the prison hospital in April 2021 at the age of 82 from natural causes.
The infamous late financier was serving a 150-year sentence for carrying out the largest Ponzi scheme in history, defrauding his clients of a staggering amount of around $65 billion.
Meanwhile, Ruth Madoff is currently living in a $3.8 Million Waterfront Mansion With a former daughter-in-law’s family in Connecticut.