Madoff's Upper East Side Penthouse Is Sold


After days of suspense, the buyer for Ponzi King Bernie Madoff's Upper East Side penthouse hs been revealed: it is Alfred Kahn, chief executive of 4Kids Entertainment, according to a New York Post scoop. Kahn is famous for marketing hit toys such as Cabbage Patch dolls and Teenage Mutant Ninja Turtles.

This past September, US Marshals appointed Sotheby's International Realty brokers Anne Corey and Serena Boardman to sell the 7-room co-op apartment at 133 East 64th Street, which was originally listed for $9.9 million. A possible sale was first reported in late January.

The Upper East Side aerie was one of several Madoff-owned properties that were seized. There was also the Hamptons ocean front home, a mansion in Palm Beach, a villa in Cap d'Antibes, France and several yachts, including a 55-foot 1969 Rybovich called "Bull." Proceeds from the sale are said to help pay back the legions of investors that Madoff bilked in his $65 billion Ponzi scheme.
Reduced to $8.9 million in November, the 3-bedroom, 4.5-bath prewar co-op has a sprawling wrap-around terrace with impressive skyline views, an ample living room, a kitchen with solarium windows and marble/stainless steel countertops, French doors, and an elliptical staircase. The master bedroom contains an enormous walk-in closet with custom made cedar drawers and a marble bathroom. And there are other nice touches like four wood burning fireplaces, herringbone hardwood floors, hand-carved moldings and 12-foot-high ceilings.

It's quite the contrast from the con artist's current digs where he is sentenced to remain for 150 years: a 5'x9' cell with two bunk beds, a toilet and a sink at the Butner Federal Correctional Facility.

In September 2009, when Deputy US Marshal Roland Ubaldo gave the New York Post a guided video tour of Bernard Madoff's seized Manhattan penthouse, he noted, "although the name Madoff is attached to it, we believe the dark cloud has lifted, and we're going to get prospective buyers for this apartment."

Well, some Cabbage Patch dolls and Mutant Ninja Turtles should certainly lighten up the mood.
 

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