Bernie Madoff’s Montauk house, asking $9 million, has already sold after “a fast and furious bidding war” to an all-cash buyer. That’s excellent news for most of his victims but can his biggest loser, self-described Madoff victim himself, Walter Noel, expect the same kind of action when he’s forced to sell his Round Hill home? Not a chance, for several reasons: first, he lacks the notoriety – Bernie was an evil genius, or at least evil, while Walt’s claim to be just a bumbling idiot is beginning to ring true. Second, the Madoff place is direct ocean waterfront. Sure it will be washed away in ten years or so, but there’s no way you could build in such a vulnerable location today and, until the sea does its work, the new owner will have the best views in town. Walter’s place is a tired old dump with a view of the road, period.
So sorry, Walt, but I don’t think you can count on the proceeds from 175 Round Hill doing much to get you out from under this mess. Have you checked the extradition treaty of Mustique?