Madoff home prices lowered

2009-11-12 03:14:55 (GMT) (WiredPRNews.com - News, Real Estate)

Two homes of Bernard Madoff have been lowered in sale price and being placed on the market.

The price of two homes of the imprisoned former financier have been lowered after several weeks on the market.

New York (WiredPRNews.com) - The asking price for two homes of former financier Bernard Madoff have been lowered after spending significant time on the market. As reported by Reuters, Madoff’s homes in New York City and Palm Beach have gone down in price after being on the market for approximately two months. The Manhattan penthouse is now listed for $8.9 million, while the price of the Palm Beach home has been cut to $7.9 million. The sale of the homes will reportedly be used to reimburse victims of Madoff’s multi-billion dollar fraud.

As noted in the report, an auction is set to take place Saturday in Manhattan for the sale of items previously used by Madoff and his wife. Madoff was sentenced to 150 years in prison for his ponzi scheme.

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