Bernie Madoff’s Luxurious Penthouse Pulled Off the Market – No Takers!
Bernie Madoff’s luxurious penthouse located in Manhattan, New York has been pulled off the market with no takers. The disgraced former financier’s penthouse was listed for sale at $8.9 million in 2019, but it has since been removed from the market.
Bernie Madoff’s History
Bernie Madoff, former stockbroker, investment advisor, financier, and convicted fraudster, was once a successful businessman. He was the former chairman of Bernard L. Madoff Investment Securities LLC, a former Wall Street private investment firm that he founded in 1960.
Unfortunately, on December 11, 2008, Madoff was arrested for fraud. He had been running a Ponzi scheme for years, which allowed him to accumulate a massive fortune. In March 2009, he pleaded guilty to 11 federal felony charges related to the scheme, and was sentenced to 150 years in federal prison.
Bernie Madoff’s Penthouse
Madoff’s luxurious 3,000-square-foot penthouse is the same one he lived in before his arrest. It is located on the 25th floor of the iconic Lipstick Building in Manhattan, New York. The three-bedroom, three-bathroom property boasts stunning views of the city skyline, a formal dining room, a library, and a master suite with a walk-in closet.
The penthouse was listed for sale in April 2019 for $8.9 million, but it has since been pulled off the market with no takers. This could be due to the building’s association with Madoff, or the fact that the building itself is not in the best condition.
The Lipstick Building
The Lipstick Building is a 33-story skyscraper located at 885 Third Avenue in Manhattan, New York. It was designed by architect Philip Johnson and completed in 1986. The building is a popular tourist attraction and is known for its cylindrical shape and distinctive red-tinted windows.
The Lipstick Building has had its share of controversies. In the 1990s, several tenants were evicted from the building for failing to pay their rent. The building also has a long-running feud with its neighbor, the Seagram Building, over the lack of sunlight.
Bernie Madoff’s Fortune
As a result of his Ponzi scheme, Madoff was able to accumulate a massive fortune. He owned several properties, including a vacation home in Montauk, a yacht, luxury cars, and a fleet of private jets. He also had millions of dollars in bank accounts, investments, and other assets.
In 2009, the United States government seized all of Madoff’s assets in an attempt to repay victims of his scheme. The government also sold off his assets, including his penthouse, to help pay back the victims.
Bernie Madoff’s luxurious penthouse located in Manhattan, New York has been pulled off the market with no takers. Despite the building’s association with Madoff and its unresolved feud with its neighbor, the Seagram Building, the penthouse had been listed for sale at $8.9 million. Unfortunately, no one was willing to purchase the property, and it has since been removed from the market. Madoff’s fortune was also seized by the government and sold off to help pay back victims of his Ponzi scheme.