After Bernard Madoff’s Ponzi scheme collapsed in 2008, the U.S. Marshals Service seized all of his family’s assets.

Among the silverware, jewelry, cars, and boats, authorities took possession of a relatively modest, 3,000-square-foot beachfront home in Montauk, N.Y., on the easternmost tip of Long Island.

After a relatively brief time on the market—particularly given the glut of available properties during that period, thanks to the ongoing financial crisis—the house sold for $9.41 million in October 2009 to Steven Roth, the chairman and chief executive officer of Vornado Realty Trust, and his wife Daryl, a Broadway producer. (Proceeds of the sale went to help pay back Madoff’s victims.)

Roth gut renovated the house with the help of interior architect and designer Thierry Despont. Less than a decade after purchasing it, the couple has put it on the market for $21 million, listing it with Corcoran brokers Gary DePersia and Joan Hegner.

The Property
The house sits on 1.5 acres almost directly on the beach, accessed via a paved drive, with 180 feet of Atlantic frontage. In a 2013 article about the home’s renovation in Architectural Digest, Daryl Roth is quoted as saying that it’s “right on the sand.”

The ground floor has a big, lofted living room with views of the ocean (naturally), a large eat-in kitchen, and two bedrooms that currently share a bathroom. The second floor has a smaller footprint and is dedicated to the master bedroom, which has its own wooden deck, his and hers half-baths, and two walk-in closets.

In total, the house has three bedrooms and three bathrooms.

There’s also a gunite pool and a deck that spans the length of the house, which is accessible from every ground-floor room.

Despont updated the layout and filled it with furniture and decorations that include a large chandelier by Jeff Zimmerman and a Vladamir Kagan rocking chair tucked into an glass-ringed alcove in the great room. The furnishings, the listing notes, “could be available separately.”

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