The last piece of Madoff-owned property on Palm Beach has finally been sold, albeit at a $1 million price reduction.
Peter and Marion Madoff, Bernie Madoff’s brother and sister-in-law, signed over the deed to their five-bedroom, six-bathroom home late Monday, the Palm Beach Post reported.
The Madoffs had originally listed the home for $6.5 million; the asking price dropped to $5.9 million last week.
The property, at 200 Algoma Rd., eventually sold for $5.5 million to an undisclosed buyer.
The Madoffs had purchased the half-acre property in 2001 for $3.7 million; the home was transferred to Marion’s name in 2006.