Prison-bound Peter Madoff — brother of famous ponzi schemer Bernie — sold his posh Park Avenue home for $4.6 million yesterday, sources said.
Madoff, who is headed to federal prison in February, moved out of the luxury sixth-floor pad and into a smaller one-bedroom unit in Battery Park City with his wife.
“Only now are they starting to feel the ramifications of what happened," the source said.
Madoff, who bought the place for $4.1 million in 2004, admitted earlier this year he knew about his brother’s plan to scam investors out of millions of dollars. He pleaded guilty to fraud in June.
AFP/Getty Images
Peter Madoff
The couple's two-bedroom home at 975 Park Avenue sold for less than its asking price, which was $4.75 million. All of the cash went to federal marshals.
A lawyer from Chicago is now moving into Madoff’s old digs.
Bernie Madoff's brother Peter sells Park Avenue apartment ahead of prison sentence
This article
Bernie Madoff's brother Peter sells Park Avenue apartment ahead of prison sentence
can be opened in url
http://newsinoverlay.blogspot.com/2013/01/bernie-madoff-brother-peter-sells-park.html
Bernie Madoff's brother Peter sells Park Avenue apartment ahead of prison sentence
