TOM HAYS, The Associated Press,
Submitted by: Editor
Madoff’s Long Island beach getaway put up for sale
In estimates federal regulators filed last year, Madoff himself valued his Manhattan apartment at $7 million and the Florida property at $11 million. He said the Montauk beach house, which he bought in 1979, was worth $3 million.
Federal authorities believe the seaside property could bring closer to $8 million. Whether Madoff's notoriety hurts or helps remains to be seen.