The estate of the late Jeffrey Epstein, the convicted sex offender, has completed the sale of all properties within his once-extensive real estate empire. The sell-off, which concluded between and , involved properties spanning the United States, Europe, and the Caribbean, and generated approximately $160 million, according to reports.
Epstein began acquiring properties from the s, building a portfolio that reflected his considerable wealth. At the time of his death in , his fortune was valued at $578 million, with real estate accounting for roughly $117 million of that total. The liquidation of these assets was undertaken by the executors of his estate, with a significant portion of the proceeds earmarked for compensating victims of his crimes.
New York City Townhouse
Perhaps the most prominent of Epstein’s holdings was a grand townhouse located at
9 East 71st Streeton Manhattan’s Upper East Side, known as the Herbert N. Straus House. Originally purchased by Epstein’s mentor, Leslie Wexner, in for approximately $13 million and subsequently renovated, Epstein began residing there around and acquired full ownership from Wexner in for $20 million. By , the property was valued at around $56 million by the city. The mansion was sold in for $51 million, with the proceeds designated for victim compensation.
Palm Beach Estate
In Palm Beach, Florida, Epstein purchased a 14,000-square-foot house at
358 El Brillo Wayin for $2.5 million. Valued at approximately $12.4 million in , the property was sold in for $18.5 million and was subsequently demolished by the new owner.
Zorro Ranch
Epstein’s real estate interests extended beyond the coastal cities. In , he acquired the Zorro Ranch near Stanley, New Mexico, from the family of former governor Bruce King. The ranch, valued at around $17 million in , was listed for sale in at $27.5 million and ultimately sold in for an undisclosed sum.
Little Saint James
Epstein also owned Little Saint James, an island in the U.S. Virgin Islands, often referred to as “Epstein’s Island.” Details regarding the sale of this property are less readily available, but it was part of the overall liquidation of his estate.
Financial Distribution
The sale of Epstein’s properties generated approximately $160 million, exceeding the initial estate valuation of $117 million for the real estate holdings. While the estate retained roughly $50 million from the sales, the majority of the funds were directed towards the Epstein Victims’ Compensation Program, established in to provide financial redress to over 100 victims. A trust was also created to support victims of sexual abuse in the U.S. Virgin Islands.
Beyond the property sales, Epstein’s estate has also distributed over $160 million to victims, repaid a $30 million loan, and reached a $105 million settlement with the U.S. Virgin Islands. A significant $112 million tax refund from the IRS further bolstered the estate’s financial position, leaving it with approximately $131 million in assets as of .
The liquidation of Epstein’s assets marks a significant step towards providing restitution to those harmed by his crimes. The complex process, spanning several years, underscores the challenges of managing and distributing the wealth of a convicted sex offender while prioritizing the needs of his victims. The case continues to draw attention as investigations into Epstein’s associates and alleged enablers remain ongoing.
