Real LI
Buying and selling real estate in the communities of Long Island
Corcoran to donate commission on Madoff house
Photo credit: Newsday/Karen Wiles Stabile
Bernard Madoff's victims will get a little something back when the federal government sells his Montauk beachhouse.
Pamela Liebman, president and chief executive of The Corcoran Group, says that the real estate firm, and the listing agents marketing the $8.75 million property, will donate their commission from the sale of the property to a fund for the financier felon's victims.
'We're just happy to be able to help," Liebman says. "We don't want to make money for this."
Real estate sources say the commission on such a property -- a 3,000-square-foot shingled home on the ocean -- would be anywhere from 2.5- to 6 percent.
Read more about the house -- and see video -- here.
See an updated photo gallery of the house interior.
Check out a video of the Madoff property in Montauk.
Newsday Photo / Karen Wiles Stabile
Tags: Bernard Madoff , Montauk , The Corcoran Group
Search recent home sales on LI.