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Exploring Jeffrey Epstein’s Real Estate Holdings: A Closer Look at His Townhouse and Caribbean Properties”

   An impressive and diverse real estate portfolio, accumulated over decades, includes a Gold Coast townhouse in Manhattan, a beachfront estate in Palm Beach, sprawling waterfront properties in the Caribbean, trophy Apartments in Paris, and acres of land in New Mexico.

However, since the demise of its owner, the infamous financier and convicted sex offender Jeffrey Epstein, this once-storied real estate empire has been sold off in pieces.”

Epstein’s Manhattan Townhouse

Epstein committed suicide in a New York jail cell before facing charges of federal sex trafficking in 2019. Since 2020, Epstein’s estate has sold off five of his properties, promising to use some of the proceeds—nearly $150 million—to compensate identified victims of sexual abuse. The recent sale was held in August.

Portfolios of various kinds were sold to different buyers, some at significant discounts and others close to their asking prices.

According to Pamela Liebman, the CEO of the major brokerage firm Corcoran Group, the Epstein scandal had a more direct impact on fortunes than other wrongdoings, such as Bernie Madoff’s case.

Jeffrey Epstein

Epstein
Jeffrey Epstein’s Property

Despite being widely regarded as a horrible man, Madoff didn’t inspire the same level of hatred as Epstein, she claimed. “When you passed an Epstein property, you would think, ‘Oh my God, those poor and needy girls.'” You didn’t pass by his flat and exclaim, “Oh my goodness, I wonder whether he was robbing people over the phone. Involved in the sale of this estate, among other companies, was Cody Vichinsky of Bespoke Real Estate. “Here it’s the Epstein rebate—it’s very exquisite,” he said. But those who can see past the acute factor said Epstein’s properties had some fundamental value.

“Some people can’t get past the 10-foot walls,” he said. There is no justification for Epstein as a person, but if you can see past it and see the fundamental bones, marble, and soil,

you have a good property.

New York Townhouse

In 1998 it cost Epstein $20 million to buy.

Original list price in 2020: $88 million

Estate’s sale price in 2021: $51 Million

Epstein’s Manhattan Townhouse which was first purchased in July 2020 for $88 million ,was the crown jewel of his real estate portfolio. Federal prosecutors stated that this house played a significant role in Epstein’s alleged sexual trafficking ring. He faced individual charges of recruiting underage girls for sexual acts and during a raid on his property in 2019, federal agents discovered hundreds of explicit images of young women.

In 2021, Epstein’s estate sold the Upper East Side Townhouse for $51 million to Michael Daffey, the former top executive at Goldman Sachs and current Chairman of the Australian-born cryptocurrency firm Galaxy Digital. Daffey seems to have embarked on a significant property redevelopment since then. However, Daffey’s spokesperson denied any comments regarding this.

Located just a block away from Central Park, this Neo-Classical mansion dates back to the early 1930s when it was designed by renowned architect Horace Trumbauer for Herbert N. Straus, the heir to Macy’s department store fortune. It later served as a school.

Model Group’s Adam Modlin.”

Epstein
Jeffrey Epstein’s Property

 

28,000-Square-Foot House

Seven mansions make up the roughly 28,000-square-foot house. During Epstein’s time, it featured ornate details, including Oak Interior Doors, French limestone imported with paintings, sculptural numbers, and decorative ironwork. The front gates were adorned with Epstein’s initials infamous bronze lines.

Epstein acquired the property’s title in 1998 from his then-neighboring associate Leslie Wexner, who was a billionaire retail tycoon behind Victoria’s Secret. The terms of the transfer were not clear, although a knowledgeable source claimed Epstein had paid nearly $20 million for it. Epstein served as Wexner’s money manager for more than two decades, extending his connections to Wexner’s various companies, philanthropic institutions, and personal life. Their relationship later played a significant role when Epstein assumed the role of Chief Executive Officer of Wexner’s company L Brands in 2020, amid controversy. Wexner did not respond to a comment request.

Throughout the years, Epstein had meetings with several prominent executives and dignitaries at the property, including Bill Gates, Britain’s Prince Andrew, and former JP Morgan CEO Jamie Dimon. Although Epstein never officially listed the house on the market, he did occasionally bring real estate agents to showcase potential clients around the property, according to local agents.

New York Townhouse agent Jed Garfield said:

Epstein
New York Townhouse agent Jed Garfield .

“In my mind, he was like a lot of rich people – he always wanted to know what his assets were worth.”

During the market’s peak in 2015 and 2016, New York real estate experts speculated that the house could be worth $100 million or more. Garfield mentioned having a Chinese client who once made an offer of $110 million, which never materialized. Other offers brought to Epstein were turned down.

I think they tried to find out if the drama of the house would exceed Epstein’s drama,” Leibman said.

The estate lowered the price to almost 65 million dollars before this property remained on the market for nearly six months. Duffey purchased it nearly two months later.

Garfield mentioned that given the economic conditions at the time, the price was within a fair market rate. “I don’t think you can say the buyer stole it or Epstein’s estate gave it away,” he asserted.

As Duffey begins her renovations, rumors are circulating within the brokerage community that she intends to sell it again after completing the work. “I’ve heard that someone might present it to buyers,” Garfield said.

Epstein’s purchase price in 1990: $2.5 million

Original list price in 2020: $21.995 million

Estate’s sale price in 2020: $18.5 million

 

In Palm Beach, Fla., Epstein maintained a 1950s-era West Indies-style estate, which he bought in 1990 for $2.5 million. When the waterfront property came on the market in July 2020, his estate priced it at $21.995 million. Within a few months, the property was snapped up by local South Florida developer Todd Michael Glaser, who paid $18.5 million. After tearing the house down, Glaser sold the vacant land for $25.845 million to venture capitalist David  Skok.

Epstein Associates

Association has announced a significant price reduction, estimating a nearly 30% discount,” they said. Absolutely no one, is no one wanted it,” they added. “Wives and girlfriends [potential buyers] were like, ‘We’re not staying in this house.'”

However, Glazer mentioned that he saw a lot of potential in the deal, “given the way the market was trending.” He noted that at the time, wealthy individuals from all over the Northeast were snatching up Florida trophy homes.

Although initially, he had thought he could quickly flip the current home to another buyer for immediate profits, Glazer soon realized that he could maximize its value by renovating the scandal-ridden estate, which sprawls across approximately 14,000 square feet under the main roof, with six bedrooms, a staff house, and a pool house.

The waterfront property, located about a mile from Mar-a-Lago, is in a prime position, boasting nearly 170 feet of frontage on the Intracoastal Waterway and views of Tarpon and Egrets Islands.

The waterfront property

Located nearly a mile from Mar-a-Lago, is in an excellent position, featuring approximately 170 feet of frontage on the Intracoastal Waterway with views of Tarpon and Everglades Islands.

In my opinion, this was somewhat easier to sell compared to other properties because it was clearly a tear-down, and as a result, it would be rid of any issues, as Labelle said, whose firm had provided the property listing alongside Agent Kerry Varouk. “Despite being just partially completed, these can be equipped and decorated. They can incur more losses,” Labelle remarked.

Glyzer mentioned that he took an unusual step in changing the property’s address, hoping to distance it further from Epstein and tangle it with a touch of luck.

Once the house was vacant, it found a buyer quickly. The cost of renovation was approximately $70,000, according to Glyzer, who stated that he earned a multi-million dollar profit in just a few months.

Great Saint James

Epstein
Great Saint James

Great Saint James spans approximately 160 acres, with only minimal structures on it. Little Saint James covers roughly 70 acres and during Epstein’s time, it featured a helipad, a private residence, a gas station, two pools, a significant residential compound, four guest villas, three private beaches, a gym, and a tennis Pavilion.

Epstein purchased a small, undisclosed sum island in 1998 and, in 2016, acquired a larger island for nearly 20 million dollars.

Vichinsky noted that most potential buyers saw the islands as personal getaways, often incorporating some form of commercial monetization strategy.

Vichinsky remarked that the Deck of Cards Farm had kept an eye on the islands from the very beginning of the sales process, waiting for the prices to drop. “When the dynamics of the deal became clear, they capitalized on it.”

Modlin Group and Bespoke Real Estate partnered with Christie’s International Real Estate to market the islands in the Virgin Islands.”

Paris Apartment

Purchase Price: Unknown

Selling Price in 2022: €10 million, or approximately $10.7 million

Epstein’s Paris apartment, with views of the Arc de Triomphe, was listed in November 2021 for €11.9 million, or roughly $12.7 million. According to an informed source, it was purchased in December 2022 by Bulgarian plastic packaging tycoon Georgi Tuchev for €10 million, or about $10.7 million. Tuchev’s company, Gotmar, specializes in packaging for beverages, food, and cosmetics. Neither Epstein nor the company’s spokesperson could be reached for comment.

The seven-bedroom apartment spans approximately 7,000 square feet. During Epstein’s ownership, it featured an office, dressing room, and a large primary suite with a marble bath.

INFO: Tracking Rent Roll

Sara Alex
Sara Alexhttp://newsida.com
Welcome to newsida.com, your source for informative and engaging content. I'm Sara Alex, and I'm passionate about the power of words to connect, inspire, and inform. As a dedicated content writer, my goal is to provide you with valuable insights, compelling stories, and up-to-date information. With a keen eye for detail and a commitment to quality, I work tirelessly to deliver content that resonates with readers. Whether it's the latest news, insightful articles, or thought-provoking blog posts, I'm here to bring you content that matters. I'm excited to share my knowledge and creativity with you through newsida.com. Feel free to explore the site and discover a world of captivating stories, helpful resources, and thoughtfully crafted content. If you have any questions or would like to collaborate, please don't hesitate to get in touch. Your feedback and ideas are always welcome! Thank you for visiting newsida.com, and I look forward to being your trusted source for engaging content.
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