Proceeds from the sale of the Park Avenue home will go to the U.S. Marshals Service as part of a forfeiture agreement Peter Madoff and his family agreed to when he pleaded guilty last month to fraud charges.
The asking price is about $100,000 less than what the Madoffs paid for the co-op in 2004 and nearly $1 million was spent on renovating it and converting it from a three-bedroom to two-bedroom unit, The Wall Street Journal reported.
A listing for the co-op says it's in "mint condition" and has maid's quarters, state-of-the-art appliances, beamed ceilings, hardwood floors and a wood-burning fireplace.
The New York Times has reported Peter Madoff reached a plea deal with prosecutors on charges of falsifying documents, filing false tax returns and lying to regulators in exchange for a 10-year prison term. He agreed to surrender all his assets, the News said.
His sentencing is scheduled for Oct. 4.