DEVELOPING
Madoff Brother's L.I. Mansion on Market for $6.5M
Thursday, Jun 2, 2011 | Updated 8:57 AM EDT
AP
Peter Madoff
advertisement
Bernard Madoff's brother has his New York mansion on the market for $6.5 million.
Peter Madoff is selling off real estate as he faces a lawsuit by the trustee reclaiming funds for investors in Bernard Madoff's Ponzi scheme.
Newsday says Peter Madoff and his wife bought the 14-room home in Old Westbury, N.Y., on Long Island, for about $2.5 million in 1990.
The paper cites public records and real estate reports.
The house is on 4 acres of property. The taxes are nearly $75,000.
Copyright Associated Press / NBC New York
Check Out
© 2013 NBCUniversal Media, LLC. All rights reserved. Portions by Broadcast Interactive Media.