Bernie Madoff’s brother sold his Manhattan apartment as he prepares to turn himself in for his 10 year prison sentence – and was forced to leave behind most of his high-priced belongings.
Peter Madoff, Bernie’s younger brother, previously pleaded guilty to playing a role in the massive Ponzi scheme and agreed to forfeit a symbolic $143.1billion and spend a decade behind bars.
As part of that repayment process, he sold his two-bedroom apartment in the upscale Upper East Side neighborhood for $4.6million.
But Madoff and his wife Marion were stunned to learn that with the sale of the apartment, they were also forced to leave most of their expensive possessions inside.
A source told the New York Post: ‘They wanted to take furniture, silverware and glasses – but the federal marshals packed up everything. They were surprised and shocked.’
The paper reported that the couple could only take clothes, a mattress and a box spring.
The contract in the sale has been formally signed and the purchaser, only identified as a lawyer from Chicago, is apparently getting a bargain.
Madoff bought the sixth-floor pad for $4.1million in 2004 and went on to spend an additional $1million for various renovations.
The apartment boasts two bedrooms, two large living rooms, four bathrooms and a maid’s room.
A Viking oven range, Sub-Zero refrigerator, Bosch dish washer, and separate wine cooler all help qualify the listing as being in mint condition, according to the listing agents at Prudential Douglas Elliman.
Because of its placement in the building on 975 Park Avenue, in between 82nd and 83rd streets, the apartment is said to have incredible light as there are both north and west-facing windows.
The co-op building was erected in 1929, and in truly lavish fashion has an elevator operator and a concierge in addition to the full time doorman.
The buyer also has access to the common ‘modern’ gym and private storage and a bicycle room.
As for Madoff, 67, The New York Post reports that he has downsized to a $3,200 one-bedroom apartment on the opposite end of the island, in Battery Park City.
He will be headed for an even smaller bedroom in February 6- just after his granddaughter’s bat mitzvah- when he will report to Otisville Prison Camp in the suburbs of New York City.