Jeffrey Epstein’s estate slashes the price of his Caribbean islands after failing to find buyer
The two Caribbean islands owned by late sex predator Jeffrey Epstein, including the so-called ‘Pedophile Island’ where he was accused of abusing girls as young as 11, have been reduced in price as his estate searches for buyers.
The two private islands in the US Virgin Islands, known as Great St James and Little St James, are now listed at $55 million apiece, or $110 million for the pair, representing a 12 percent price cut from the original asking price, the listing agent told the Wall Street Journal.
The two islands first hit the market in March as a package deal for $125 million. Real estate agent Adam Modlin of Modlin Group, told the Journal that several potential buyers have expressed interest, but that there was more interest in them individually than as a pair.
Attorneys for Epstein’s estate say that proceeds from selling the island will go toward resolving lawsuits and other outstanding costs in the winding down of the estate. The estate has already paid about $145 million out to Epstein’s victims.
Little St James is the infamous island where Epstein built his lavish compound to host orgies and traffic underage girls. Nearby Great St James, through roughly twice as big, is largely undeveloped, and Epstein purchased it primarily to keep tourists away from his hideaway.
Virgin Islands prosecutors in 2020 accused Epstein of bringing girls as young as 11 to the islands and sexually assaulting them. The disgraced financier died behind bars in 2019 at age 66 in what was officially ruled a suicide.
The two Caribbean islands owned by late sex predator Jeffrey Epstein, including the so-called ‘Pedophile Island’ (above) where he was accused of abusing girls as young as 11, have been reduced in price as his estate searches for buyers
Great St James Island (above) is more than double the size of Little St James but is largely undeveloped
Epstein’s tropical hideaways are part of the US Virgin Islands and are located a short distance away from Puerto Rico
Government documents show that Little St James Island, which sits on 70 acres of land located a little over a mile from St Thomas – a tropical island near Puerto Rico – was purchased by one of Epstein’s companies in April 1998 for $7.95million.
Epstein died behind bars in 2019 at age 66 in an apparent suicide
The lush hideaway, named ‘Pedophile Island’ for acting as the hub of Epstein’s alleged sex trafficking ring, features a cream-and-turquoise-colored stone mansion boasting a master bedroom with a 10-person shower, four guest villas, a helipad, a private dock, a gas station, two pools, three private beaches and a tiki hut.
In 2016, Epstein spent $18million on the neighboring Great St. James Island, which once was popular with locals and tourists for its main attraction, the Christmas Cove nature preserve.
Epstein is believed to have been interested in purchasing the larger island primarily as a buffer to keep curious visitors away from his compound on Little St James.
At 160 acres across, Great St James Island is more than double the size of Little St James but is largely undeveloped, except for a smattering of small structures dotting the untamed landscape.
Great St James Island was once worth $3million and was owned by a woman who had died.
It had been divided into parcels then given to three people, and all parcels were later bought by Epstein in an apparent attempt to protect his privacy and shield from the world the alleged sexual abuse happening on Little St James Island.
A lawsuit filed by prosecutors in the Virgin Islands in 2020 alleged that Epstein used his two secluded islands to engage in a nearly two-decade conspiracy to traffic and abuse girls as young as 11 years old.
In 2016, Epstein spent $18million on the neighboring Great St. James Island (above), which once was popular with locals and tourists for its main attraction, the Christmas Cove nature preserve
Government documents show that Little St James Island, which sits on 70 acres of land located a little over a mile from St Thomas, was purchased by one of Epstein’s companies in April 1998 for $7.95million
The lush hideaway, features a cream-and-turquoise-colored stone mansion boasting a master bedroom with a 10-person shower, four guest villas, a helipad, a private dock, a gas station, two pools, three private beaches and a tiki hut
A blue-striped structure sits on a lookout point on Little St. James Island, in the U. S. Virgin Islands, in 2019
At one point, according to the complaint, Epstein and others organized a search party to catch a 15-year-old victim trying to swim away, and kept her passport to prevent her escape.
From 2001 to 2018, Epstein and his aides, among them Ghislaine Maxwell, flew girls from other countries to the Virgin Islands on the multimillionaire’s private plane known as the ‘Lolita Express,’ then ferried them by boat and helicopter to Little St. James.
Maxwell, 60, was convicted in December of sex trafficking and other charges for helping Epstein sexually abuse multiple teenage girls from 1994 to 2004.
Additional instances of sexual abuse took place at Epstein’s other properties, including a Palm Beach, Florida, estate and a Manhattan mansion, which were sold last year for $51million and $18.5million, respectively.
His apartment in Paris is on the famed Avenue Foch and was listed at the end of 2021. His 10,000-acre Zorro Ranch, about 35 miles from Santa Fe in New Mexico, is still on the market for $27.5 million, months after it was first listed.
A $22 million home in Vail, Colorado was transferred to him by Libet Johnson, the late heiress to the Johnson & Johnson fortune, who died in 2017. Records show them both living there; it is still listed as being owned by Johnson’s trust.
Epstein’s properties are seen above. Many have been sold since his death, but so far no buyer for the islands has emerged
Facilities at Great St. James Island, a property linked to financier Jeffrey Epstein, are seen in an aerial view
Little St. James Island, one of the properties of financier Jeffrey Epstein, is seen in an aerial view
About $125 million from Epstein’s estate already has been paid out to more than 135 victims through the Epstein Victims Compensation Program, which closed up shop in August 2021.
The fund was designed as an alternative to lawsuits, which can take years to yield a payout.
Epstein’s estate was valued at $636 million after his 2019 death, but court documents last month showed that just $154 million of that vast wealth remains.
The value of Epstein’s art and collectibles remains unchanged at $337,154 as does his $4,055 collection of watches.
According to the quarterly accounts filed this week, taxes and upkeep of his remaining properties account for close to $3million worth of quarterly expenses – with $2,388,205 spent on taxes on the infamous New York townhouse alone.
But the single most significant drain on the pedophile’s failing fortunes by far is money paid out to the 135 women who accused him of sexually abusing them when they were young.
As of March 2022, the cumulative sum paid to victims stands at $144,527,339.05 – $121,127,399.05 of this came from the Epstein Victims Compensation Fund.
The New York Times has placed the estate’s legal fees at $30million.
JEFFREY EPSTEIN’S UNDOING: A TIMELINE OF THE MILLIONAIRE PEDOPHILE’S DOWNFALL
1999 – Virginia Roberts Giuffre is allegedly recruited by Ghislaine Maxwell to became Epstein’s ‘sex slave,’ at 17. She also claimed that he forced her to have sex with his friend Prince Andrew, the second son of Queen Elizabeth.
2002 – Trump tells New York Magazine that his friend Epstein ‘likes beautiful women as much as I do, and many of them are on the younger side.’
2005 – A 14-year-old girl tells police that Epstein molested her at his Palm Beach mansion.
May 2006 – Epstein and two of his associates are charged with multiple counts of unlawful sex acts with a minor. State attorney of the time Barry Krischer, referred the case to a grand jury who heard from just two of the 12 girls law enforcement had gathered as potential witnesses. They returned just one single count of soliciting prostitution.
July 2006 – The case is referred to the FBI by the Florida Palm Beach police who were unhappy with how the case was handled.
2007 – Epstein’s lawyers meet with Miami’s top federal prosecutor Alexander Acosta, who would later become the Secretary of Labor in the Trump administration. They secretly negotiate the ‘deal of a lifetime’.
June 2008 – After pleading guilty to two prostitution charges, the millionaire was sentenced to 18 months in a low-security prison in exchange for prosecutors ending their investigation into his sex acts with minors and give him immunity from future prosecution related to those charges. In reality, Epstein was able to work from his office six days a week while supposedly incarcerated at the jail.
July 2008 – Accusers learned of the deal for the first time.
July 2009 – Epstein is released from jail five months early.
July 2018 – The Miami Herald publishes investigative journalist Julie K. Brown’s exposé on Epstein’s long history of alleged sexual abuse and news of the ‘deal of a lifetime’ after Acosta was made Labor Secretary.
February 2019 – The justice department opens an internal review into Epstein’s plea deal.
July 7, 2019 – Epstein is arrested after his private jet lands at New Jersey’s Teterboro Airport from Paris. At the same time, federal agents break into his Manhattan townhouse where they uncovered hundreds of photographs of naked minors.
July 8, 2019 – Epstein is charged with sex trafficking charges which detail how he created a network of underage girls in Florida and New York, paying girls as young as 14 to provide ‘massages and sex acts.’ The charges carry a sentence of up to 45 years in prison.
July 11, 2019 – More than a dozen women, not previously known to law enforcement, came forward to accuse him of sex abuse.
July 24 – Epstein was found unconscious in his cell after an apparent suicide attempt. He was moved to suicide watch at the Metropolitan Correctional Center.
August 9, 2019 – More than 2,000 documents are unsealed which reveal the lurid allegations against Epstein in detail.
August 10, 2019 – Epstein is found dead in his cell.