Prison-bound Peter Madoff — brother of famous ponzi schemer Bernie — sold his posh Park Avenue home for $4.6 million yesterday, sources said.
Madoff, who is headed to federal prison in February, moved out of the luxury sixth-floor pad and into a smaller one-bedroom unit in Battery Park City with his wife.
“Only now are they starting to feel the ramifications of what happened," the source said.
Madoff, who bought the place for $4.1 million in 2004, admitted earlier this year he knew about his brother’s plan to scam investors out of millions of dollars. He pleaded guilty to fraud in June.
AFP/Getty Images
Peter Madoff
The couple's two-bedroom home at 975 Park Avenue sold for less than its asking price, which was $4.75 million. All of the cash went to federal marshals.
A lawyer from Chicago is now moving into Madoff’s old digs.
Bernie Madoff's brother Peter sells Park Avenue apartment ahead of prison sentence
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Bernie Madoff's brother Peter sells Park Avenue apartment ahead of prison sentence
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Bernie Madoff's brother Peter sells Park Avenue apartment ahead of prison sentence
