Who acquired epstein's private island and what were the sale terms?
Executive summary
Stephen Deckoff — founder of Black Diamond Capital Management (also reported as SD Investments) — bought Jeffrey Epstein’s two U.S. Virgin Islands, Great St. James and Little St. James, in a reported deal for roughly $60 million; the islands had been listed for $125 million and sale proceeds were designated to help satisfy a $105 million settlement with the U.S. Virgin Islands [1] [2] [3]. Reporting shows the buyer says he plans to convert the properties into a luxury resort; the estate’s executor has said proceeds will be used to resolve outstanding lawsuits [4] [5].
1. Who bought the islands — the buyer and his stated plan
Multiple outlets identify Stephen Deckoff (founder of Black Diamond Capital Management, sometimes reported via SD Investments) as the purchaser of Great St. James and Little St. James, and they report he paid about $60 million for both islands; Deckoff has publicly said he plans to develop a resort on the islands [1] [2] [4]. Coverage from NPR, the Financial Times and others repeats Deckoff’s stated intent to hire architects and open a luxury resort as early as 2025 [6] [4].
2. The headline price and how it compares to the listing
The two islands were marketed together for $125 million when placed on the market; the reported purchase price—about $60 million—is substantially below that asking figure, roughly half the original list price [7] [2] [1]. Different outlets cite $55 million or $60 million in various accounts, but all place the sale well under the $125 million listing [4] [8] [2].
3. Who benefits from the sale — the settlement and designated proceeds
Reporting ties the islands’ sale to a civil settlement: Epstein’s estate reached a $105 million settlement with the U.S. Virgin Islands attorney general, and estate representatives said some proceeds from the islands’ sale would be used to resolve outstanding lawsuits and cover estate costs [3] [5] [4]. Axios, Fortune and BBC note the estate agreed to pay at least $105 million to the territory and that a portion of any sale proceeds would feed into that obligation [3] [5] [9].
4. Legal and symbolic context — why the buyer and the island matter
Little St. James in particular is central to decades of allegations that young women and minors were trafficked and abused there; its sale and repurposing carry legal and symbolic weight for victims and the U.S. Virgin Islands government, which litigated against Epstein’s estate [10] [11]. House Democrats have also released photos and videos from the property as part of ongoing efforts to compile the public record around Epstein’s conduct and related investigations [12] [13].
5. Conflicting details and reporting gaps
Sources vary slightly on exact dollar figures and firm names: some reports list $60 million for both islands, others $55 million; Deckoff is named as a billionaire investor and as founder of Black Diamond Capital Management, and some outlets refer to SD Investments — the reporting points to the same buyer but uses different corporate labels [2] [4] [14]. Available sources do not mention detailed sale contract terms such as escrow arrangements, closing date, contingencies, or whether any portion of the islands was excluded from the deal — those specifics are not in the cited reporting (not found in current reporting).
6. Public reaction, redevelopment concerns and transparency issues
Local and national reporting flagged mixed reactions: some present the sale as an economic opportunity for the U.S. Virgin Islands, referencing Deckoff’s promise of tourism investment, while others emphasize the island’s grim history and victims’ interests that drove the $105 million settlement [6] [10]. Congressional Democrats have continued pressing for release of Justice Department files related to Epstein; the newly released images of the island were distributed by House Oversight Democrats as part of that broader push for transparency [12] [3].
7. Bottom line for readers
Fact: Stephen Deckoff is widely reported as the buyer who paid roughly $60 million for Great St. James and Little St. James [1] [2]. Fact: proceeds from the sale were tied by the estate and by the U.S. Virgin Islands settlement process to resolving outstanding lawsuits and to satisfy a $105 million settlement [5] [3]. What’s not publicly detailed in the sources: full contractual sale terms, exact disbursement breakdowns from the closing, and whether any legal encumbrances beyond the settlement affected the price (not found in current reporting).