Current:Home > NewsFinancier buys Jeffrey Epstein's private islands, with plans to create a resort-LoTradeCoin
Financier buys Jeffrey Epstein's private islands, with plans to create a resort
View Date:2024-12-24 00:47:48
The private islands that were a nexus in Jeffrey Epstein's depraved abuse and trafficking of young women and underage girls will be turned into a resort destination by a U.S. billionaire. Great St. James and Little St. James have been in limbo since Epstein's death in 2019.
Financier Stephen Deckoff paid $60 million for Great St. James and Little St. James through his SD Investments firm, a spokesperson told NPR. Deckoff is the founder of Black Diamond Capital Management.
The purchase price reflects a steep discount from the $110 million for which the two properties were recently listed.
Little St. James spans around 71.6 acres and includes "a helipad, private dock, gas station, high-capacity water filtration, 2 pools, the main compound, 4 guest villas, 3 private beaches, gym, tiki hut," and other buildings, according to its real estate listing.
The pair of islands initially went on the market in March of 2022, with a $125 million asking price. The listing figure was later reduced after no buyers materialized.
The two islands, which lie just off St. Thomas in the U.S. Virgin Islands, figured prominently in the civil and criminal cases against Epstein and his accomplice, Ghislaine Maxwell. That's especially true of Little St. James, where numerous young women have said in court papers that they were taken via private jet before being ordered to perform sexual acts with Epstein and other men.
Epstein bought Little St. James in 1998, roughly 18 years before purchasing its larger neighbor, which measures around 161 acres.
Deckoff, who lives in the U.S. Virgin Islands, said he plans to build a "world-class destination" on the two islands. He pledged that the project will bring economic benefits to the region, while also respecting its local culture and natural beauty.
Deckoff said he is in the process of hiring architects and engineers to develop the resort, adding that it could open as early as 2025.
The sale of the islands might herald a new chapter for the idyllic locale, but the transaction also has a link to Little St. James' recent dark history, as a place where vulnerable minors and young women endured nightmarish ordeals after being enticed by Epstein and Maxwell.
Under a $105 million settlement reached last December, the U.S. Virgin Islands government is due to receive half of the proceeds from the sale of Little St. James — and use the money to establish a trust to fund support services and counseling for victims of sexual abuse and human trafficking.
News of the sale comes less than a year after the islands were mentioned repeatedly by the U.S. Attorney's Office in New York in a sentencing memo seeking decades of prison time for Ghislaine Maxwell; she was sentenced to 20 years in prison for conspiring to sexually abuse minors.
veryGood! (5)
Related
- Harriet Tubman posthumously named a general in Veterans Day ceremony
- 'Next level tantruming:' Some 49ers fans react to Super Bowl loss by destroying TVs
- The World Is Losing Migratory Species At Alarming Rates
- Oscar nominees for films from ‘Oppenheimer’ and ‘Barbie’ to documentary shorts gather for luncheon
- Oregon's Dan Lanning, Indiana's Curt Cignetti pocket big bonuses after Week 11 wins
- Shop J. Crew’s Jaw-Dropping Sale for up to 95% off With Deals Starting at Under $10
- Flight attendants don't earn their hourly pay until aircraft doors close. Here's why
- This surprise reunion between military buddies was two years in the making
- Veterans face challenges starting small businesses but there are plenty of resources to help
- 'The voice we woke up to': Bob Edwards, longtime 'Morning Edition' host, dies at 76
Ranking
- 'I heard it and felt it': Chemical facility explosion leaves 11 hospitalized in Louisville
- Why Taylor Lautner Still Has Love for Valentine's Day 14 Years Later
- Ryan Gosling cries to Taylor Swift's 'All Too Well' in Super Bowl ad for 'The Fall Guy' movie
- Taylor Swift and Travis Kelce Bask in Afterglow of Chiefs' Super Bowl Win With On-Field Kiss
- Army veteran reunites with his K9 companion, who served with him in Afghanistan
- Was this Chiefs' worst Super Bowl title team? Where 2023 squad ranks in franchise history
- What It's Really Like to Travel from Tokyo to Las Vegas Like Taylor Swift
- Blast inside Philadelphia apartment injures at least 1
Recommendation
-
Trump on Day 1: Begin deportation push, pardon Jan. 6 rioters and make his criminal cases vanish
-
Hundreds of protesters opposed to bill allowing same-sex marriage rally in Greek capital
-
Difficult driving, closed schools, canceled flights: What to expect from Northeast snowstorm
-
Horoscopes Today, February 12, 2024
-
Justice Department says jail conditions in Georgia’s Fulton County violate detainee rights
-
Cocoa prices spiked to an all-time high right before Valentine's Day
-
More than 383,000 Frigidaire refrigerators recalled due to potential safety hazards
-
AP PHOTOS: New Orleans, Rio, Cologne -- Carnival joy peaks around the world as Lent approaches