The U.S. Marshals Office recently posted an announcement that the office is seeking the assistance of experienced real estate brokers to help in the selling of properties owned by the 21st century's most notorious con artist Bernie Madoff. There are three properties with an estimated value of each at $7 million. The Feds want a broker to assist in the selling of an Upper Eastside penthouse in NYC, a beach house in the East Hamptons in Montauk, NY, and a palatial residence in Palm Beach, Fla.
Since proceeds from the sale of the real estate go directly to the victims burnt by Bernie, the U.S. Marshals Office's objective is to obtain top dollar from the sale of the luxury properties. That is why the office is going outside its standard liquidation procedures with LPS Assets Management Solutions in liquidating Madoff's three ill-begotten luxury properties.
Brokers hopeful of landing this opportunity must meet specified criteria to qualify for consideration. A track record that includes previous high-profile clients and the handling of transactions of $4-million or more over the past two years are requisites for brokers interested in applying. Additionally, brokers may need to elaborate on what they did specifically in order to protect the privacy of their clients. The NY Post reported that is unclear as to when the properties will go to market.
Posted: JustLuxe (08/20/09)