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Published: Tuesday, 10/12/2010

Feds agree to sell off Madoff home in Florida


PALM BEACH, Fla. — Bernard Madoff's Palm Beach, Fla., home is under contract to be sold for an undisclosed amount, Deputy U.S. Marshal Roland Ubaldo said Tuesday.

The house, built in 1973 and listed for sale in September, 2009, for $8.49 million, has five bedrooms and seven bathrooms, according to Palm Beach County property records. The property has a private dock on the shore of Lake Worth, a lagoon that opens to the Atlantic Ocean.

The 6,475-square-foot home is the last of three properties once owned by Madoff that the U.S. government is selling to pay restitution to victims of his Ponzi scheme, the largest ever. He is serving a 150-year sentence at a federal prison in North Carolina.

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