Buying and selling real estate in the communities of Long Island
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Peter Madoff lists Old Westbury mansion
Bernard Madoff's brother, Peter, who is facing a large lawsuit by the bankruptcy trustee reclaiming funds lost by investors in Bernie's Ponzi scheme mess, has put some big chunks of real estate up for sale, including his spacious Old Westbury mansion, public records show.
The home, which Peter Madoff owns with his wife, is listed for $6.5 million, according to information taken from public records, which noted that the stucco dwelling has taxes of $74,980, with additional village taxes of $17,234.
Built in 1935, the gated five-bedroom, five-bath, two-half-bath is on four-plus acres next to a private golf club, according to the real estate listing with Daniel Gale Sotheby's International Realty. There is a gunite pool, a tennis court and an elevator.
Peter Madoff's Palm Beach, Fla., residence was also scheduled for sale last month, according to papers filed by trustee Irving Picard. List price and details about the sale weren't disclosed.
The ownership of an Aston Martin car garaged at the Palm Beach estate was also transfered to Picard before the Florida home was sold, court records stated. The vehicle was slated to be auctioned off to raise money to pay victims of Bernard Madoff's estimated $20 billion fraud.
Picard sued Peter Madoff and other relatives in an effort to recoup what the trustee alleges was money taken from victims of the Ponzi scheme. Peter Madoff has denied wrongdoing.