$4.495 Million Asking Price Will Go To Ponzi Scheme Victims

OLD WESTBURY, N.Y. (CBSNewYork) — The home that belonged to Bernie Madoff’s brother, Peter, is on the market after being seized by the U.S. Marshals Service.

On Tuesday, CBS 2’s Emily Smith got an all-access tour of the French-inspired château on Pheasant Run in Old Westbury, which is filled with items to be auctioned off.

The mansion epitomizes old-world charm, and inside millions of dollars’ worth of antiques can be found. And that is just the beginning of the lavish lifestyle Peter Madoff lived.

Madoff pleaded guilty last year to falsifying documents and lying to regulators as part of his brother’s Ponzi scheme, and was sentenced to 10 years in prison.

As part of his plea deal, Madoff forfeited his assets, including the Old Westbury home.

The home also features a sitting room with a Persian rug and crystal chandelier, a library filled with classic novels, a large family-style kitchen, and an all-season sun room.

If you walk around the home, you will notice how every item is tagged. The U.S. Marshals Service is responsible for auctioning off everything that was seized following the arrest.

That includes more than $1 million worth of fine china, silverware, and artwork.

The 1935 Gatsby-era mansion has five bedrooms and five bathrooms. The room off of the elegant master bedroom is where Madoff, a former attorney, did most of his reading.

The bathroom still has Madoff’s bathrobes hanging by the shower. It also features a $10,000 smart toilet that opens and closes with a motion sensor.

Outside, there are formal English gardens with pathways, century-old statues, and fountains imported from Italy.

The home is on the market with Shawn Elliott Luxury Homes and estates for $4,495,000. Proceeds will go to the victims of the Ponzi scheme.

The U.S. Marshals Service already has sold Peter Madoff’s Park Avenue apartment for $4.6 million, with the proceeds likewise going to Ponzi scheme victims.

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