Jeffrey Epstein’s Private Islands in U.S. Virgin Islands Sold to Billionaire Investor for $60 Million
Two private islands in the U.S. Virgin Islands formerly owned by the late disgraced financier and convicted sex offender Jeffrey Epstein have been sold to a billionaire investor. Stephen Deckoff, the founder of private equity firm Black Diamond Capital Management, purchased both Little St. James and Great St. James for $60 million, according to a press release issued by his acquisition firm, SD Investments.
The final sale price represents a significant discount—less than half—of the initial asking price of $125 million set when the properties were first listed in early 2022. The two islands, which span a combined total of approximately 230 acres, have been the subject of intense international scrutiny due to the alleged sex trafficking crimes committed there by Epstein and his associates.
Deckoff, who has been a resident of the U.S. Virgin Islands since 2011, announced comprehensive plans to transform the properties into a world-class luxury resort. In a statement regarding the acquisition, he expressed pride in the U.S. Virgin Islands and confidence that the new development would bring substantial economic benefits to the territory, specifically regarding tourism and job creation. The investor plans to construct a 25-room hotel and resort, with an anticipated opening date currently set for 2025.
Little St. James, which covers roughly 70 acres, served as Epstein’s primary residence for years and contained the main compound frequently associated with his illegal activities. Great St. James, a larger neighboring island of approximately 160 acres, was acquired by Epstein years later and remained largely undeveloped.
Proceeds from the $60 million sale will be directed to the Epstein estate. Daniel Weiner, an attorney representing the estate, confirmed that the funds would be utilized to pay the estate’s outstanding regular administration expenses and creditors. This transaction follows the closure of the Epstein Victims’ Compensation Program, which concluded its operations in August 2021 after paying out more than $121 million.
The transaction marks a significant turning point for the properties, which have been in legal limbo since Epstein died by suicide in a Manhattan jail cell in August 2019 while awaiting trial on federal sex trafficking charges. The islands had previously been the target of civil forfeiture actions by the U.S. Virgin Islands government, which sought to seize the land as part of a settlement regarding the estate’s liability for Epstein’s criminal enterprise.
Deckoff indicated that a significant portion of the project involves “purging” the islands of their past reputation. He emphasized that the development would respect the natural environment while creating a destination that highlights the beauty of the St. Thomas region, aiming to help the community move past a dark chapter in the territory’s history.
