(New York, NY) — It was back in 2008 when Bernie Madoff was arrested for his $50 billion Ponzi scheme, but interestingly enough, over the past decade his old homes have been skyrocketing in value.
The former homes include a Manhattan penthouse on East 64th Street, and vacation homes in Palm Beach, the French Riviera, and Montauk.
The Manhattan penthouse which was sold for only $8 million in 2010 is worth nearly $14.5 million today.
Madoff’s former Montauk home was originally sold for $9.4 million but has recently been re-listed for $21 million.
The Palm Beach home, now listed at $12 million is worth double its original price, and the French Riviera home went from $1.3 million to $1.6 million.
However, according to the Business Insider, the rise in value has nothing to do with Madoff and can be entirely explained by massive renovations.
As for Madoff, also known as prisoner number 61727-054, he will continue to live out his days in a dorm-like prison cell.
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