Madoff Sell-off

Last Tuesday, Bernie Madoff’s four-bedroom Montauk summer home went on sale via the Corcoran Group, part of a vast collection of Madoff properties that are being sold to help reimburse victims of his scam. Proceeds from most sales (British and French authorities have laid claim to his overseas property) will be pooled into the Federal Marshal Service’s Seized Asset Fund, which will be distributed to Madoff investors over the next five to ten years.

Five-bedroom waterfront mansion, Palm Beach. $7.45 million. (All values of unsold property are most recent estimates.) About to be put up for sale. Contents, including extensive collection of bull-themed art, are intact.

Summer home, Montauk. $8.75 million. 3,000-square-foot house on Old Montauk Highway has panoramic views of the Atlantic from every room; sits along 182 feet of beachfront, in close proximity to the shore because it was built in 1982, prior to environmental zoning regulations that now forbid such development.

Four-bedroom duplex penthouse, East 64th Street. $7 million. Brokers’ proposals for the 4,000-square-foot apartment are being considered; one go-getter from Brown Harris Stevens has offered to do it pro bono. Contains a tea table worth $20,000.

Three-bedroom apartment, Château des Pins complex, Cap d’Antibes, France. $1.6 million. “Surprisingly modest” 1,300-square-foot second-floor apartment has a partially obstructed view of the ocean. U.S. and French authorities are squabbling over who gets to repossess the property.

Leopard Bull, a 90-foot “27M” sports yacht with accompanying boat slip. $8.5 million. On the market via private treaty with luxury yacht broker Wyles Hardy. Docked in Antibes, France, since it was seized by the French.

Sitting Bull, 38-foot Shelter Island Runabout sportfishing boat. $320,000. Seized in April, when FBI agents found it at the Montauk Marine Basin.

Bull, 1969 Rybovich 55-foot sportfishing boat. $2.2 million. At a National Liquidators marina in Ft. Lauderdale, Florida, the boat is in “impeccable condition, as if someone lovingly wiped it down each day,” per a marshal.

Little Bull, 24-foot Pathfinder boat. $25,000. Hasn’t yet appeared on the market.

Vintage Aston Martin DB2/4 worth $237,600 plus five other cars (2007 BMW 530i, 1999 Mercedes Benz CLK Class, 2001 Mercedes Benz E Class, 2004 Volkswagen Touareg, and 2006 Peugeot) worth at least $80,000. U.S. officials have also canceled leases on six other vehicles (2007 Land Rover Range Rover, 2008 Cadillac DTS, 2009 Mercedes S550 leased last October, 2007 Mercedes S550, 2008 Mercedes GL450 SUV, and a 2006 Lexus).

Mets season tickets, including a pair of Citi Field Delta Club Platinum (downgraded to Gold). Valued at $80,190; sold on eBay for $45,600.

50 percent stake in BLM Air Charter aircraft. $12 million.

100 prepaid hours on NetJets. $1 million.

• Approximately $10 million worth of unspecified furniture, clothing and other household goods, and fine art. Marshals have said they’ll hawk items like household goods through an auction.

• Estimated amount that personal asset sales will recoup: $59 million
• Amount of legitimate claims filed (so far) by defrauded Madoff investors: $3.5 billion
• Estimated amount that entire recovery process has recouped, including business assets: $1.23 billion

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Madoff Sell-off