Bernie Madoff's brother, Peter, has sold his two-bedroom Park Avenue home for $4.6 million a month before entering a federal prison to serve 10 years for falsifying records and conspiracy. Madoff, 67, will move into a one-bedroom place in Battery Park City with his wife, where she will stay while he serves his sentence.
Madoff entered a guilty plea, admitting to complete knowledge of his brother's Ponzi scheme that left hundreds of investors bankrupt. Madoff bought the home at 975 Park Avenue in 2004 for $4.1 million, but he won't see any of the profitâ€”it will all go to the U.S. Marshall Service to help pay back victims who lost their money to the swindle.
Click through to get a good look that at the place.
[via NY Daily News]