Luxurious New York apartment where Bernie Madoff's son Mark committed suicide becomes available to rent...for just $35,000 a month
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The plush New York apartment where Bernie Madoff’s son Mark committed suicide is up to rent for a cool $35,000 a month.
The sprawling wood-finished Soho loft property will go on the market in November for the second time in just over a year.
Rental value for the flat on Mercer Street has been raised by $2,500 by owner Stephanie Mack, Mark's widow.
The luxurious New York flat where Mark Madoff, pictured left next to wife Stephanie Mack, committed suicide after his father Bernie Madoff (right) was jailed is to be made available for rent again in November
Mark Madoff’s widow, Stephanie Mack, and the couple's children haven’t lived in the apartment since shortly after Mark hanged himself there in December 2010, on the second anniversary of his father’s arrest.
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ShareAccording to The New York Post Mrs Mack told Harper’s Bazaar earlier this year that she tried to move back in with the children in an attempt to return to normality but was unable to do it.
She was reported saying: 'When I got home and walked through the door, I threw up.'
But the $35,000 a month offer may only be for a limited period of time.
Mark Madoff's former apartment on Mercer Street in New York which is being put up for rent at $35,000 a month
Mark Madoff¿s widow, Stephanie Mack, and the couple's children haven¿t lived in the apartment since shortly after Mark hanged himself in December 2010
Bernie Madoff was jailed for 150 years in March 2009 for masterminding the Ponzi Scheme - a $76billion fraud scam
The bankruptcy trustee charged with recouping ill-gotten gains from the Ponzi 'pyramid' scheme - the scam through which Bernie Madoff carried out his multi-billion dollar fraud - is suing Mrs Mack for $26million.
The trustee, Irving Picard, says the couple bought the 4,000-square-foot apartment with the help of a loan from Mark’s mother which was never repaid.
Bernie Madoff was jailed for 150 years in March 2009 for masterminding the Ponzi Scheme - a $76billion fraud scam.
His fraud ensnared hedge funds, non-profit groups and celebrities, and devastated the life savings of thousands.
Madoff admitted the Ponzi scheme began in the early 1990s in response to a recession and that he concocted the scam to meet the lofty expectations of his exclusive clients.
He orchestrated the Ponzi scheme - named after a 1920s fraudster - by using cash from new investors to pay higher than normal returns to existing clients.
Tragic death: Medical staff, right, use a stretcher remove the body of Mark Madoff, left, from the apartment building in which he lived in the Soho neighbourhood of New York on December 11 last year
Madoff used his London trading operation to try to cover up his 20-year deception and wired millions to and from his Mayfair-based subsidiary in a money laundering operation to make it look as though he was investing in European markets.
He solicited billions from customers around the world under the pretence that it was being invested in securities.
Book: Following Mark's death Stephanie penned a autobiography about her feelings
In reality, he was simply depositing the money straight into a number of bank accounts.
The con was exposed last December-after the financial meltdown meant many of his investors demanded their money back, but couldn't get it.
He claimed he was holding $76billion worth of investors' money. In reality, his assets had dwindled to a fraction of that.
Mark and Stephanie Madoff wed in 2004 after meeting on a blind date when Stephanie worked in fashion and Mark worked in finance. But she said his ‘handsome face aged overnight’ when Bernie was jailed.
Stephanie said her husband physically changed as the charges against his father unravelled and he even grew a beard to disguise himself.
Mark described himself as ‘beyond devastated’ when he emailed her an article entitled ‘Madoff’s kin eyed as probe grinds on’, reported People magazine. She replied: ‘I cannot take this anymore!’
Mark hanged himself just hours later - and Stephanie, who is now studying childhood development at graduate school, said her daughter Audrey cried when she told her about his death.
Mark was found dead in his New York loft apartment on the second anniversary of his father's arrest last year - as their young son Nicholas slept in the next room.
Her mother-in-law Ruth was banned from Mark’s funeral by a furious Stephanie after flying from Florida to Connecticut to attend the service following his death last December.
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