Madoff's Palm Beach Mansion Lists For $8.5 Million

PALM BEACH, Florida (AP) — A waterfront Palm Beach mansion once owned by disgraced financier Bernard Madoff was put on the market Thursday for $8.5 million, while his Manhattan apartment will have an asking price of $9.9 million.

In Florida, the Corcoran Group real estate firm will market the secluded estate located along the Intracoastal Waterway. It has five bedrooms and seven bathrooms and covers more than 8,700 square feet (808 sq. meters).

The 4,000-square-foot (371-sq. meter) duplex atop a luxury building on New York's Upper East Side was to be officially put up for sale later Thursday, said Anne Corey of Sotheby's International Realty.

Asked about the notoriety of the former owner, the broker said, "I don't see it as an issue. We're looking at marketing it as an outstanding penthouse apartment in New York."

Madoff, 71, is serving a 150-year prison sentence for masterminding a multibillion-dollar Ponzi scheme that burned thousands of investors. The government seized his homes in New York and Florida and plans to sell them along with boats and other property.

A beach house in Montauk, New York used by Madoff as a weekend getaway is listed for $8.75 million. Proceeds from all the property will go to Madoff's victims.