A real estate market recovery would be good news for investors burned by Bernard Madoff, who's serving a 150-year prison sentence. The government is moving to sell off more personal assets by Madoff (and others), which has resulted in some interesting properties on the block.

His house in Montauk, way out on Long Island, is for sale. It's got 4 bedrooms, three bathrooms, a pool and a 1.2-acre lot on the shore. The government is hoping for $875 million. Federal marshals also intend to sell Madoff's house in Palm Beach, Fla., and his penthouse in New York, as well as several boats he owned, reports the New York Times.

Memorabilia, which is far more affordable, is also for sale. In June, the government held auctions for two homes also on Long Island that were owned by Marc Dreier, the lawyer who pleaded guilty to defrauding hedge funds in the wake of the Madoff scandal. 

For more:
- here's the article

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