Over a decade after the U.S. Marshals sold off the Montauk beach house of Bernie Madoff to benefit his victims, the property has once again returned to the market. Current owners Daryl Roth, a Broadway producer, and Steven Roth, the chairman of Vornado Realty Trust, scooped up the property during that sale in 2009. They have tried selling the property numerous times over the years, most recently asking for $17.9 million from 2020 until early 2022.
Still in pursuit of a buyer, the couple now hopes to pull in $22.5 million for the spread. One would think it should hardly be too difficult with such a sublime oceanfront location and pricey homes selling unusually quickly nationwide, but perhaps its legacy has been a challenging factor. According to the Wall Street Journal, Madoff purchased the land in 1980, creating the home from there.
Set on 1.5 acres, with 180 feet of Atlantic Ocean frontage, the secluded retreat is accessed via a long, gated drive. The Roths tapped acclaimed architect Thierry Despont, whose own Tribeca townhouse listed last November, to transform the beach house in 2011. What stands today counts 3 bedrooms and 3.5 bathrooms within 3,000 square feet.
Despont’s work acts as the ideal complement to such stunning natural surroundings. A two-story great room is the structure’s centerpiece, with vaulted ceilings and extensive glass doors supplying dreamy views of the ocean. Even the gym peeks out at the water via a sliding door, so there are big views no matter how small the space.
Tim Davis of The Corcoran Group holds the listing now. Davis told Mansion Global of the homeowners, “Their heart and soul went into this project of purchasing and developing the property. There is an emotional attachment there.”