A Montauk beach house formerly owned by the infamous Bernie Madoff, who was responsible for running the largest financial fraud in US history, just hit the market for $21 million. Madoff purchased the pristine land in 1980 for $250,000 and the 3,000-square-foot house came to life in 1982. Years later, when Madoff was arrested for his crimes, the government seized the property and listed it with Corcoran. The money made from the sale was given to victims of the Ponzi scheme in an attempt to atone for the hefty sums they lost, according to the WSJ
.Vornado Realty Trust founder, Steve Roth, and award-winning theater producer, Daryl Roth, ultimately snagged the property, which is buzz-worthy for more than just its notorious previous owner. Situated on a protected bluff, the stunning home is a rarity since zoning laws
no longer allow houses to be built on the beach. A true Hamptons treasure, this home is for someone looking to step out of bed and into the sand.The Roths, who are the current sellers, extensively renovated the structure with the help of acclaimed architect and designer Thierry Despont. High ceilings, massive windows, and a lush neutral color palette make for an elegant and breezy beach getaway. The great room especially impresses with a 30-foot high stone fireplace and plenty of space for large gatherings.Gary DePersia and Joan Hegner of Corcoran
have the exceptional listing for the second time.