68 LONGISLANDPRESS.COM • MAY 2021
OCEANFRONT OFFERING
MADOFF’S MONTAUK MANSION
BY TAYLOR K. VECSEY
Bernie Madoff’s former oceanfront house
in Montauk is back on the market, this
time for $17.9 million.
The 1.5-acre property located west of
downtown Montauk at 216 Old Montauk
Hwy., previously put on the market in
2018 for $21 million, is listed with Chris
Coleman at Compass.
The bungalow-style home, which was
seized by the federal government after
Madoff was arrested for a $65 billion
investment scam, has since been updated
and improved since the days Madoff and
his family spent time there.
The developer Steve Roth and his wife,
theater producer Daryl Roth, bought
the property in 2009 for $9.41 million—
$660,000 more than the asking price. The
money was used to pay back some of the
24,000 people who lost money in Madoff’s
Ponzi scheme.
The Roths hired Thierry Despont, the
renowned architect who has worked
for the likes of Bill Gates and Oscar de
la Renta, for the extensive renovation of
the 3,000-square-foot house, which boasts
180 feet of beach frontage and panoramic
views of the Atlantic Ocean. The house
is also within 150 feet of the beach — no
longer allowed under zoning laws.
Gone is the 1980s-feel of the home,
including including the formica countertops
(Madoff and his wife Ruth
bought the home in 1982 for $250,000).
Forbes once quoted a realtor as saying
the house was “a 1980s dump set in a
fabulous location.”
Among the highlights is a 2-story great
room that looks out onto the ocean
through oversized glass doors that can
be pulled back for the best in indoor-outdoor
living. The room also features a barrel
vaulted ceiling, a stone fireplace, and
curved sitting area, perfect for reading
by the oceanside, Coleman says.
The gourmet eat-in kitchen is a fully
equipped open space with room for a large
table and also offers ocean views. A butler’s
pantry is also located off the kitchen.
Sliders offer direct access to the covered
patio, where another large table allows for
al fresco meals to the sound of the ocean.
There are three bedrooms and three and
a half bathrooms with two bedrooms on
the first floor, both with ocean views. Two
full baths and one half bath is also located
on this level.
On the second floor is the master suite,
which offers its own private oceanfront
deck. The bathroom features luxurious
amenities such as radiant-heated travertine
floors and a spa-like shower, is
decked out in onyx, and even has a separate
balcony with an outdoor shower just
in case you feel like showering outside
instead. There is also a set of walk-in
closets.
Coleman says buyers will find new
mechanical systems throughout the
house, including a Crestron-controlled
environment that incorporates
the heating, ventilation, and air
conditioning system, audio, lighting,
automatic shades and the radiantly
heated floors.
A new free-form gunite pool, cabana,
and wrap-around decking are located to
the east of the covered patio. The wide
sandy beach is only steps away, with
private access on the southwest corner
of the property.
This story first appeared in Behind The
Hedges.
OPEN HOUSE
Madoff’s property is still on the market after he recently died in prison for
running the nation’s largest Ponzi scheme. (Credit: Chris Foster, Courtesy Corcoran)
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