Jeffrey Epstein’s two private islands sell for $60m — less than half original asking price
Little Saint James - dubbed “Paedophile Island” by locals — and Great Saint James will be developed for tourism, new owner Stephen Deckoff says
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Two private Caribbean islands owned by Jeffrey Epstein have been sold to a billionaire investor for less than half the original asking price.
Stephen Deckoff, the founder of Black Diamond Capital Management, said in a statement he had purchased Great Saint James and Little Saint James for $60m, more than a year after they went on the market for $125m.
Proceeds from the sale will go towards a $105m settlement reached by Epstein’s estate with the US Virgin Islands government in November last year, Mr Deckoff said.
Epstein, who died in 2019 while awaiting trial on sex trafficking charges, used his private island in the archipelago to host powerful guests and traffic young girls to for decades.
Trump news – live: New accuser says Trump groped her at Melania interview as court hears Access Hollywood tape
Proud Boys leader and three members guilty of seditious conspiracy in Jan 6 attack
JP Morgan Chase executives knew of Jeffrey Epstein sex abuse and obstructed justice, lawsuit claims
Jeffrey Epstein’s estate to pay $105m to US Virgin Islands government
Locals had nicknamed Little Saint James as “Paedophile Island”. The 71-acre secluded island is about a mile from St Thomas and has several luxury dwellings, three beaches, a gas station and a helipad.
Epstein purchased the island for $7.95m in 1998.
Nearby Great Saint James is more than twice the size and is undeveloped. Epstein purchased the island for $18m in 2016.
Mr Deckoff, a longtime US Virgin Islands resident, said he planned to open a luxury 25-room resort on one of the islands in 2025 that would boost tourism and economic development.
“I’ve been proud to call the U.S. Virgin Islands home for more than a decade and am tremendously pleased to be able to bring the area a world-class destination befitting its natural grace and beauty,” Mr Deckoff said.
Epstein’s estate was valued at $600m at the time of his death, due to his vast property holdings in New York, New Mexico and Florida.
In November, when he reached a settlement with the US Virgin Islands government, his estate’s assets had fallen to $159m, the attorney’s general’s office said.
The estate has paid out more than $160m to his sex trafficking victims since his death, The New York Times reported.
The sale brings to an end the late paedophile’s decades-long association with the US Virgin Islands.
Prosecutors on the Caribbean island said in a 2020 court filing that Epstein had trafficked and sexually abused girls as young as 11 at the properties.
Forbes first reported the purchase of the islands on Wednesday.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments