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NOV
21
Prices on Madoff Mansions Cut
By John Askins



Asking prices for the homes once occupied by Bernard Madoff, serving 150 years for a massive Ponzi scheme, have been cut after two months on the market.

The price of his 8,750-square-foot Palm Beach, Fla., mansion was reduced 7 percent to $7.9 million, according to Corcoran Group, which listed the property.

The asking price on Madoff’s 4,000-square-foot duplex in Manhattan has been cut 10 percent to $8.9 million, according to Sotheby’s International Realty, which listed that property.

Sale proceeds will be used to reimburse victims of Madoff’s estimated $65 billion Ponzi scheme.

Source: Reuters News
Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

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John Askins

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Welcome to Royce Realty, your source for Houston and Texas real estate. If you own property that you are thinking of selling I would be happy to provide you with a FREE Home Evaluation. If you are buyer, in this competitive real estate market, timing is everything. Many good homes are sold before...
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