Madoff's Long Island Beach Home Sells for $9.41 Million

Associated Press

Federal marshals say Bernard Madoff's Long Island beach house has sold for $9.41 million.

The U.S. Marshals Service put the 3,000-square-foot house on the market Sept. 1 to help repay victims of Madoff's massive fraud. The four-bedroom house is set amid the dunes in Montauk, N.Y., a beach community east of the Hamptons.

The home sold on Sept. 18. The Corcoran Group -- the broker that sold the home -- said at the time that the property sold for above the $8.75 million asking price.

Bernie Madoff

The 71-year-old Madoff was sentenced in June to 150 years in prison for orchestrating a massive Ponzi scheme.

Madoff's Manhattan penthouse and waterfront mansion in Palm Beach, Fla., remain on the market for $9.9 million and $8.5 million respectively.