The U.S. Marshals Service announced Tuesday that the Corcoran Group will list imprisoned financier Barnard Madoff’s beach home in Montauk, N.Y., for $8.75 million.
The property sits on a 1.2-acre lot, nestled close to the southeastern tip of Long Island.
Its proximity to the water and the eye-popping view are the grandest aspects of the 3,014-square-foot garageless home, observers say. The house, described by marshals as "simple, stylish and understated," is at the foot of a steep driveway off Old Montauk Highway.
"Our goal is to place the homes on the market soon to minimize the amount of time they remain in our inventory and maximize the return to the victims," U.S. Marshal Joseph R. Guccione said in a statement.
Source: The Associated Press, Tom Hays (09/01/2009)
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