A former Goldman Sachs executive is behind one of this year’s biggest and most notorious home sales.
Michael Daffey, who managed some of the investment bank’s hedge fund clients, is the buyer of Jeffrey Epstein’s townhouse on the Upper East Side, Business Insider reported. A spokesperson for Daffey said he used cash and a bridge loan to purchase $ 51 million.
The proceeds from the sale will go to Epstein’s estate, which has established a fund for his alleged victims. The disgraced financier and convicted sex offender was facing sex trafficking charges when he committed suicide in a Manhattan jail in 2019.
The 28,000 square foot home at 9 East 71st Street first marketed last June, asking for $ 88 million. He has a $ 23 million price cut in January, and went in contract early March. The final selling price is approximately $ 1,821 per square foot.
The townhouse is 50 feet wide and was built in the 1930s in the neoclassical style. It was originally a school building before Leslie Wexner, the founder of L Brands and former partner of Epstein, acquired it in 1989. Epstein bought the house for $ 20 million in 1998.
A month before Epstein’s death, his properties were estimated to be worth around $ 180 million. Developer Todd Michael Glaser recently paid $ 18.5 million for Epstein’s former mansion in Palm Beach, just below its asking price of $ 22 million. Glaser plans to demolish the house.
Epstein too owned houses in New Mexico, the Virgin Islands and Paris.[Business Insider] – Danielle Balbi