The 2023 sale of Epstein Island: price, buyer and the resort that never came

Why the islands had to be sold at all

The sale was not a free decision by the estate. It was part of a settlement. In late November 2022 the Attorney General of the U.S. Virgin Islands, Denise N. George, settled with the estate, two co-executors and several Epstein companies: $105 million in cash, half of the proceeds from the sale of Little St. James, $450,000 for environmental remediation on Great St. James, and the return of more than $80 million in economic development tax benefits ¹.

The agreement explicitly requires the estate to sell both islands to independent third parties and to wind down its business in the territory ¹.

The money is tied to a purpose. The island proceeds go into a government trust that funds counselling, services and programmes for residents who are victims of sexual assault, human trafficking and child sexual abuse ¹. The release names Little St. James as the island where Epstein lived and where many of his crimes occurred, which is why that island's proceeds were earmarked ¹.

Who bought, and at what price

The buyer is SD Investments, an investment firm led by the financier Stephen Deckoff. The announcement of 3 May 2023 names him as the purchaser of both islands and notes that he has lived in the U.S. Virgin Islands since 2011 ⁴.

The price was $60 million for the pair, far below the original $125 million asking figure ^3,5. For comparison, Epstein had bought Little St. James alone in 1998 for $7.95 million ⁸.

The corporate structure has grown since. In 2026 court filings, Little St. James is held by LSJVI, LLC, an entity associated with the buyer ⁹.

In his release the buyer spoke of bringing the region a world-class destination befitting its natural beauty ^4,7. The release said nothing about the existing buildings ⁴.

Where the money from the sale goes

Half of the proceeds from Little St. James goes to the government of the Virgin Islands and is tied to the victims' trust ^1,3. Coverage of the sale put that share at roughly $30 million, while the buyer's release speaks of a significant portion of the proceeds ⁴.

The arithmetic cannot be checked cleanly. Both islands were sold as one package, the settlement covers only Little St. James, and none of the sources explains how the price was split between them ^3,1.

Alongside that stand the other parts of the settlement: $105 million in cash, more than $80 million in returned tax benefits and $450,000 for environmental damage ¹. The Attorney General called it the largest monetary settlement in the territory's history ¹.

Good to knowAnyone quoting an exact figure for the trust is going beyond the sources. What is documented is a half share of one island's proceeds, not an amount.

The resort that was meant to open in 2025

The announcement was specific: a five-star resort with 25 rooms that would create jobs and support tourism, opening in 2025 ^4,7.

The permit files show nothing of the sort. Up to February 2026 the only application by the new owner was for a warehouse; the drawings replace several small metal sheds with one semi-circular concrete building ⁶.

In March 2026 a spokesperson for the planning department said no plans for a resort on either island had been received ⁸. In May 2026 the property side said only that there was no further comment on development at that time ⁹.

So the plan has sat on paper for three years. No withdrawal has been announced, and no resale or new listing has been reported ⁷.

In May 2026 a spokesperson for the property said the current owner and his family had never met or associated with Epstein, that the property works with law enforcement against unwanted visitors, and that there was no sign of the resort or any momentum towards it ¹².

The fight over $5.7 million in tax

On 7 July 2026 the buyer sued the territorial government in the U.S. District Court of the Virgin Islands. At stake is income tax for 2021, which he claims back as an overpayment: at least $5,757,038 ^11,7.

The core question is tax residency. The federal tax authority opened an audit in 2024 and takes the position that he was not a bona fide resident of the Virgin Islands in 2021 and therefore owed the territory no tax on income earned outside it ^7,11.

One detail in his own filings stands out: the complaint says he was a bona fide resident of the territory from 2012, while the 2023 sale announcement said he had lived there since 2011 ^11,4.

The territorial tax bureau had neither allowed nor disallowed the refund claim filed in November by the time of the suit, and neither the government nor the buyer's side commented publicly ¹¹. The government had until 19 October 2026 to answer ⁷.