Peter Madoff’s Old Westbury Home Sells for $3.5 Million

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Peter Madoff’s Old Westbury, Long Island home has been sold for $3.5 million.

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Peter is the brother of the white-collar villain Bernie Madoff. The sale is a small but significant step in providing restitution to Madoff’s many victims.

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“I was able to put a very positive spin on the sale. Every dollar of the purchase will go to the victims” said Maria Babaev, the Douglas Elliman agent on the listing.

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While Curbed called the English-style Westbury house “rather hideous,” Babaev attests it “has everything you could imagine.”  By this, she means five bedrooms, a billiard room, gym, swimming pool, private tennis court, two-car garage. The home can also add a now notorious history the list of perks—it belonged to the Madoff family for more than 20 years. The property is just 25 miles east of Manhattan and has been on the market since 2011.

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Peter Madoff is currently serving a 10-year sentence for aiding in his brother’s Ponzi scheme. Bernie Madoff will serve for 150 years, the maximum allowed.

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Photos courtesy of NY Daily News

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