We know the story now. Bernard Madoff conned thousands of investors into thinking they were making tons of money while in fact he was pocketing their investments through a complex Ponzi scheme. He was the one making the millions. The investors were making nothing. The sad fact is that the investors who lost by believing in Madoff will not know the luxury that he knew.
Think about the luxury home floor plan he probably had in his New York City apartment valued at seven million dollars. New York City has some of the most expensive price per square foot amounts in the world. The crowded city with its impressive skyscrapers is not cheap to live in. It is obvious that Madoff had a place in the right part of Manhattan with a great floor plan. He was living the good life of a New York City millionaire while the charitable organizations whose trust he was "investing" were working to make the poor of the city a little more comfortable.
What about his home in Florida? The sunshine state is a very popular state with New Yorkers, so it makes sense that he have a home there. But, did he need a home valued at eleven million dollars? The overall luxury home plan for this Palm Beach mansion must be super impressive. This most certainly was not a home designed for the family looking to escape the cold winds of New York City during the middle of winter; this has to be a home planned for the rich and famous.
Of course every hard working investor needs a country retreat. Although Madoff was not really investing, he was working hard at swindling. Madoff's three million dollar home in Montauk, New York served this purpose. It would be interesting to see the luxury architecture home plans for his third home in the United States (he has a fourth home in France). It would definitely show what a true luxury home buyer should be looking for these days.