Little Saint James island is owned by Stephen Deckoff, a billionaire investor who founded Black Diamond Capital Management. Deckoff bought Little Saint James together with neighboring Great Saint James in May 2023 for roughly $60 million, acquiring both through his investment vehicle SD Investments LLC.1The New York Times. Billionaire Investor Buys Epstein’s Private Islands for $60 Million The islands previously belonged to Jeffrey Epstein, the convicted sex offender who died in federal custody in 2019.
How Deckoff Acquired the Island
The Epstein estate had listed both islands for $125 million in 2022, but the property’s history made finding a buyer difficult. Deckoff paid about half the asking price and closed in May 2023, taking both islands as a single package.1The New York Times. Billionaire Investor Buys Epstein’s Private Islands for $60 Million
The sale was made possible by a late-2022 settlement between the U.S. Virgin Islands government and the Epstein estate, which resolved a civil enforcement action alleging Epstein used the territory as a base for sex trafficking. The estate agreed to pay $105 million in cash to the territorial government and to turn over half the proceeds from the sale of Little Saint James.2USVI Department of Justice. U.S. Virgin Islands Attorney General Settles Sex Trafficking Case Against Estate of Jeffrey Epstein and Co-Defendants for Over $105 Million Those sale proceeds were placed in a dedicated trust that funds counseling and support services for Virgin Islands residents who are victims of sexual assault, human trafficking, and child sexual abuse.
Who Stephen Deckoff Is
Deckoff founded Black Diamond Capital Management, an investment firm that manages roughly $9 billion in assets and specializes in distressed debt and opportunistic investments.1The New York Times. Billionaire Investor Buys Epstein’s Private Islands for $60 Million The firm has offices in Stamford, Connecticut, as well as London, Mumbai, and St. Thomas. Deckoff already had ties to the U.S. Virgin Islands before the acquisition.
What Deckoff Plans to Do With the Island
At the time of the purchase, Deckoff announced plans to build a five-star, 25-room luxury resort, describing the project as a “world-class destination” that would create jobs and boost tourism in the territory.3PR Newswire. SD Investments Announces Acquisition of Great St. James and Little St. James Islands in the United States Virgin Islands An opening date as early as 2025 was initially projected.
That timeline has slipped. As of early 2025, the only construction permit requested for the property was for an 8,800-square-foot warehouse, and the application was incomplete because no environmental assessment had been submitted.4Newsweek. Who Owns Epstein Island Now? Update on Billionaire Plan to Build New Resort No significant construction on either island had been reported heading into 2026.
What’s Still on the Island
Epstein’s compound on Little Saint James included a main residence, staff quarters, and a distinctive blue-and-white striped building that became one of the most recognizable images associated with the scandal. As of early 2026, there has been no public confirmation that these structures have been fully demolished or replaced. Given the minimal permitting progress, the timeline for removing the old buildings and beginning new construction remains unclear.