There’s a very surprising item over at CNNMoney today on the Montauk house of Bernie Madoff. The four bedroom house has been seized by the authorities and is being sold to repay ripped off investors.
What’s odd is that CNNMoney reports that “the only thing that’s truly spectacular about Bernie Madoff’s Montauk, N.Y., beach house is its stunning views of the Atlantic.” It goes on to say that the house is “unremarkable,” featuring “small bedrooms” and “formica countertops.”
What’s shocking isn’t so much the modesty of the decorating as the tastefullness. It seems that Madoff was able to resist the temptation to build a McMansion on the shore and, instead, stuck with a very classic beach house. In an age when every hedge fund manager under the sun seems to have ruined the East End with their lavish home spending in the Hamptons, Madoff kept the place in Montauk as it was meant to be.
“The look is pretty and appropriate, but not at all extravagant. A visitor probably wouldn’t hesitate to walk in with sandy shoes,” CNN Money reports.
Could it be that Bernie had good taste?
Business Insider Emails & Alerts
Site highlights each day to your inbox.