Back on the open market is the former Long Island beach house of convicted Ponzi schemer Bernie Madoff. The property, which has come and gone from the market several times in the past few years, is currently listed at $22.5 million.

The peculiar house, which is set on an isolated waterfront lot in the Hamptons, underwent radical reconstruction — mainly for the benefit of a contextual reboot desired by its current owners, who purchased it from the U.S. government — with designer Thierry Despont at the helm. Regular readers may recall the name; Despont’s list of famous clients includes Michael Douglas and Catherine Zeta-Jones; the pair hired the designer to revise their Manhattan apartment, which was listed for sale last summer.

As it currently stands, the home’s architectural features include an entryway defined by two stories of glass. The prize is the great room, which was converted by Despont into a space that resembles a room aboard ship; a river stone fireplace accent wall, arcing plank-finished ceiling, and multiple clerestory windows distinguish this primary living area. Nautical elements pop up elsewhere in the home.

The residence’s three bedrooms and four baths include a master suite with a private sheltered terrace; other outdoor living areas include a covered porch, a cabana, and a sundeck adjacent to the Gunite pool. The grounds extend to 1.5 acres of perfectly secluded Montauk beachfront.

Madoff was at one time chairman of the NASDAQ stock exchange. His Ponzi scheme was said to be worth $65 billion.