Great Saint James

Two Caribbean islands that belonged to financier Jeffrey Epstein hit the market for $125 million last week, raising eyebrows in the small community of private island real estate brokers. “My opinion is that this is overpriced, by far,” says Farhad Vladi, owner of the broker Vladi Private Islands. “You have to do comparable sales data, and if you look at other islands which have sold, there’s no data that justifies $125 million.” Other Articles: Super-Luxury Home Sales Surge Across U.S., Rising 35% In 2021 • Luxury Real Estate Trends From New York's Best Sales Year Ever Other Articles: Super-Luxury Home Sales Surge Across U.S., Rising 35% In 2021 • Luxury Real Estate Trends From New York's Best Sales Year Ever The U.S. Virgin Islands properties are being sold by the late Epstein’s estate; after he was accused of sexually abusing and trafficking young women and underage girls on the properties, Little St. James—including his mansion and mysterious blue-and-white-striped hilltop temple—gained the local sobriquet “Pedophile Island.” The proceeds will go toward resolving outstanding lawsuits against the estate and the regular costs of its operations, according to the Wall Street Journal, which first reported the listing. And that doesn’t include the specter of Epstein himself, which Vladi says could do serious damage to the islands’s valuation. “I would never want to go there with my wife and family and enjoy it,” he says. “It’s full of negative criminal energy, and it’s very difficult to sell.” But a broker at one of the three firms marketing Epstein’s islands says the price is justified. “The sellers have done their due diligence,” says Nick Bailey, a directing broker at Christie’s International Real Estate: the Saints. “Based on what has been sold in the past 10 years, and what’s on the market for sale, they’ve determined this is an accurate price.” And would the seller be willing to sell each island individually? “Their preference would be to sell both islands together as a package,” Bailey says. Islands that are private and also close to a larger body of land—filled with shops and restaurants—are obviously the goal, Christie continues. “And then there are other things: Is there a runway, is there a helipad, is there deep-water access? Because many of the ultrawealthy have megayachts.” Other pluses that affect the price, he says, are white-sand beaches and rolling hills. 4. New Student Loan Caps Turn College Funding Into Estate Planning Decision 5. San Diego Practice With $2.4B AUM Joins LPL From U.S. Bank