The former head of the IMF will be taken to a Manhattan apartment that his third wife, French journalist and millionaire heiress, Anne Sinclair, rented ahead of the hearing at the State Supreme Court this afternoon, lawyers said.
There he will subjected to 24-hour monitoring by a security firm paid for by him and an electronic tag will be fitted on his ankle.
Video cameras will also be installed in the house and alarms will be fitted on the doors to stop him leaving.
He was due to spend last night in Rikers Island prison in New York whilst his family got together $1million in cash and a $5million insurance bond, after which he will be released.
Ms Sinclair and Strauss-Khan's daughter Camille - a university student based in New York - were both in court and looked visibly relieved at the judge's decision.
New York's Supreme Court was told that an indictment has now been handed down against Strauss-Kahn after a grand jury agreed there was enough evidence for a prosecution.
He will appear in court next month to be arraigned. Read More