Bernard Madoff's Montauk, N.Y., home is on the market for $8.75 million, a price that will remain firm to compensate his victims, U.S. marshals said.

The selling price, which the Corcoran Group, Madoff's realtor, says is the market value of the estate, is intended to produce the maximum amount of proceeds to be used to compensate victims of Madoff's massive Wall Street swindle, ABC reported.

The estate, with beachfront property and a swimming pool, is one of three homes that was owned by convicted Ponzi scheme operator, ABC said.

"The U.S. Marshals Service is working diligently towards the disposition of the assets related to the Madoff case," U.S. Marshal Joseph R. Guccione said. "The interrelated assets in this case include three homes, three vessels, multiple vehicles, thousands of pieces of personal property items and numerous financial and commercial real estate partnerships."