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made-off

Real-Estate Mogul Steve Roth Buys Bernie Madoff’s Cursed Montauk Home

Bad vibes and Sears-style décor did not stop people from bidding on Bernie Madoff's seaside manse. In the end, Steven Roth, the billionaire chairman of Vornado, actually paid over 6 percent above the asking price — $9.41 million — for the dubious distinction of owning one of the homes that a Ponzi scheme built. We know: It's all about the location, and the Montauk house has 182 feet of ocean frontage. But is it worth it? All we're saying is, we doubt anyone's going to want to be weekending at Bernie's once the nightmares and visions of a swinging Bernie and a nude Ruth start haunting guests by the pool. Shudder.

Vornado Realty's Roth Buys Madoff's Montauk Estate [WSJ]

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