Jeffrey Epstein's islands already have a buyer. Stephen Deckoff, founder of asset management company Black Diamond Capital Management, has acquired the properties of the sex offender, who died in 2019, for $60 million.
As reported exclusively by Forbes, the deal has been completed for less than half of the initial asking price for the islands. Little St. James, a 70-acre island also nicknamed pedophile island, and Great St. James, a 160-acre island, were sold for US$125 million. Both belong to the archipelago of the U.S. Virgin Islands.
Deckoff's goal is to take advantage of the islands' existing facilities - a heliport, several swimming pools and several guest villas - and build a 25-room luxury resort. The tycoon told Forbes:
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 benefitting its natural grace and beauty. I very much look forward to working with the U.S. Virgin Islands to make this dream a reality.
He also claimed that he has never been on the controversial islands until after Epstein died. The sex offender bought Little St. James for about $8 million in 1998. In 2016, he acquired Great St. James for $22.5 million.
