After pleading guilty in federal court last year to his part in his brother Bernie’s Ponzi scheme, part of Peter Madoff’s plea deal was to turn over all family assets to the feds which will be put into the victims’ fund for later distribution. That included both of his homes and all personal possessions. His New York apartment has already been sold for $4.6 million, and now his Old Westbury, New York home of 20 years, shown here, has also been put back on the market with a $4.5 million price tag after there were no takers at the original $6.495 listing price, according to TopTenRealEstateDeals.com. In addition to forfeiting the homes, Peter was also sentenced to 10 years in prison.
The Peter Madoff Long Island estate is an impressive two-story home on 4 acres sized at 7,992 square feet with 5 bedrooms and 7 baths. Built in 1935, the English-style home has a winding drive, 2-car garage, pool, formal gardens, tennis court, pool house-guest cottage, an elevator and generator.
Having been put on the market previously at $6.495 million, it has recently been relisted at $4.5 million. Find the listing at shawnelliott.com