The price for Jeffrey Epstein’s private islands in the Caribbean has been lowered after they’ve failed to find a buyer after being up for sale for more than two months. Great St. James and Little St. James were listed in March for $125 million, but they’ve now been split up and are available for $55 million each, the Wall Street Journal reports.
- The price reduction equals 12%. It’s hoped that by splitting the islands up, multiple buyers could swoop in and grab them up. However, there’s still the option for one person to purchase both for $110 million.
- There has been some interest in the islands, apparently. Adam Modlin of the Modlin Group, the company behind the listing, claims that there has been interest from several potential buyers but that they wanted the option to buy the options separately rather than as a pair.
- The islands are some of the last properties of Epstein’s to be sold. His mansion in Manhattan went for $51 million in March 2021 and his home in Palm Beach, Florida was sold for $18.5 million. However, that house has been torn down to have a new one built in its place. His ranch in Santa Fe, New Mexico, is still available for $27.5 million, along with his home in Paris.
- The money made from the sales will go to a good place. Daniel Weiner, the lawyer representing Epstein’s estate, says the property sales profits will go to paying outstanding lawsuits as well as covering the costs of the estate’s operations. “The proceeds from the sale are expected to be used for the estate’s regular administration, including its payment as necessary of taxes, creditors and claimants,” Weiner explained.
- It’s not hard to understand why no one wants these islands. Given the amount of horrific abuse that went on in Little St. James and the terrible memories and connotations it holds for many, it makes sense that not many people would be interested in purchasing it. No doubt it will be sold eventually, but hopefully this time it will be used for less nefarious purposes.
