Madoff's Long Island beach home sells for $9.41 mn

NEW YORK: Federal marshals say the sale price of Bernard Madoff's Long Island beach house is $9.41 million.

The US Marshals Service put the 3,000-square-foot (279-sq. meter) house on the market September 1 to help repay victims of Madoff's massive fraud. The four-bedroom house is set amid the dunes in Montauk, New York, a beach community east of the Hamptons.

The home sold on September 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.

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, Florida, remain on the market for $9.9 million and $8.5 million respectively.