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 profit—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]