For almost a decade, Jeffrey Epstein’s Higher East Facet townhouse was one of the crucial carefully guarded properties in New York.
Newly launched Justice Division paperwork present how Epstein tightly managed entry to the sprawling, off-market mansion, demanding purchaser names, rejecting provides he deemed too low and expressing suspicion of ulterior motives. Locked out of one of many metropolis’s most infamous properties, brokers dangled the names of billionaires, oligarchs and financiers in hopes of securing a displaying. The bar for who was granted entry to the townhouse — later revealed to be the location of a lot of Epstein’s abuse of younger ladies — was not simply excessive, however typically arbitrary, formed as a lot by Epstein’s ego as by any lifelike prospect of a sale.
Brokers paraded a procession of ultra-wealthy would-be patrons in an effort to unlock the entrance door, to little avail. Even Ben Ashkenazy, the billionaire developer behind a roughly $10 billion portfolio, was dismissed as “not wealthy sufficient.” Others tried name-dropping international oligarchs — together with one pitch promising “my very rich Russians.” And when hedge funder and Mets proprietor Steve Cohen surfaced in dealer paperwork, Epstein responded not with a displaying, however by suggesting a “sting.”
“My very rich Russians”
The correspondence captures an odd audition course of, as brokers cycled by way of names and pitches whereas Epstein and his aides determined who was value letting inside.
In 2016, when Jed Garfield, who runs the boutique brokerage Leslie Garfield, approached an affiliate of Epstein’s about displaying the house at 9 East 71st Avenue to Ashkenazy, Epstein wrote again: “inform jed [sorry] not wealthy sufficient.”
Epstein additionally seems to have turned down Michael Lehrman, who heads up Newmark’s European group, and former Stephens CEO and present Ambassador to the UK Warren Stephens, emails present.
“Mr Epstein can solely assume the patrons are mere tire kickers,” Epstein’s assistant wrote to Garfield when he tried to convey Stephens by in 2010. “Your earlier purchasers by no means bid, so we’re sort of cautious.”
In uncommon cases, Epstein allowed Garfield to point out the house to a few of his rich purchasers. In 2014 Garfield organized a displaying for one of many “Sweet brothers,” presumably referring to actual property tycoons Nick and Christian Sweet, and in 2015 for Chinese language billionaire Guo Wengui, also called Miles Kwok, who was later arrested in the USA for tax fraud.
A spokesperson for Nick Sweet confirmed that he toured the home in 2014, however the go to “didn’t lead to any relationship, enterprise dealings, or subsequent contact of any form.”
Brokers hardly ever communicated with Epstein instantly, as a substitute liaising together with his cadre of advisors and assistants who relayed his ideas on potential patrons and showings. Epstein additionally issued particular directions for readying the home forward of showings, together with taking down pictures on the third flooring — later recognized by a New York Occasions investigation as the placement of his bed room and therapeutic massage room, which have been stuffed with pictures of bare ladies.
“JE simply knowledgeable me [that] Jed Garfield will probably be displaying 71st to somebody on Friday at 11am…Can we please guarantee that the photographs on third flooring are taken down as properly,” learn an email associated to a displaying in December 2011, the place the sender is redacted.
Garfield declined to touch upon the emails.
Different brokers tried to get in on the motion as properly. In 2010, Sotheby’s Worldwide Realty’s Serena Boardman emailed an Epstein’s assistant claiming to have “two good prospects,” presumably referring to patrons for his townhouse. Epstein responded to his assistant, “no curiosity.”
Boardman didn’t reply to requests for remark.
In some circumstances, brokers tried to bypass the method by leaning on identify recognition. In 2016, Douglas Elliman’s Richard Steinberg emailed Epstein’s accountant with a “longshot” proposal of displaying the house to 2 separate Russian oligarchs, Roman Abramovich and Alexi Kuzmichev.
“Would Mr. Epstein take into account displaying two of my very rich Russians who I’ve bought two of the costliest townhouses in New York to his residence,” Steinberg wrote.
However eight years later, Steinberg mentioned these names have been possible not more than a ploy to get within the door.
“I wished to provide myself credibility, as a result of I imagined he would have gotten calls from 100 brokers attempting to get entry into the home,” Steinberg informed TRD.
“They by no means checked out it, they have been by no means ,” he mentioned of the Russians.
“Let’s arrange a sting”
One peculiar interplay revolved round yet one more billionaire put ahead as a possible purchaser: Steve Cohen.
A document dated Might 5, 2010 exhibits “Steven A. Cohen” as a potential purchaser in a right-to-sell settlement despatched to Epstein by Brown Harris Stevens. The doc, which doesn’t present a countersignature from Epstein, allowed BHS agent Brian Manning to point out the property to Cohen by way of June 2010.
Almost all people concerned within the emails round a possible displaying for Cohen denied that he was within the property.
“At no level did Steve or any approved consultant go to the property or categorical curiosity in buying it,” a spokesperson for Cohen mentioned in an announcement.
Corridor Wilkie, who was president of Brown Harris Stevens on the time and whose identify appeared on the backside of the doc, mentioned he by no means knew that Cohen was a possible purchaser of Epstein’s townhouse, and that he by no means personally toured the home. However Willkie’s signature seems on a earlier right-to-sell settlement for the property despatched on April 30, 2010 that doesn’t reveal Cohen’s identification.
Epstein didn’t seem to consider Cohen was an actual purchaser. “Have Brian manning [confirm] in writing that his purchaser that he represents is steve cohen,” Epstein wrote to his accountant, Richard Kahn, the morning of Might 5.
Epstein went as far as to counsel that the tour was a ploy for “both thieves or investigators attempting to get into the home” in one other e-mail copying Kahn that day. When Kahn requested if he ought to schedule a viewing of the house if Manning did verify Cohen’s identification, Epstein replied “no, lets arrange a sting.” He didn’t present some other particulars on what a sting would entail.
A home not on the market
Epstein by no means bought the property whereas he was alive, possible as a result of he sought eye-popping costs upward of $150 million, in accordance with emails and interviews with brokers accustomed to the discussions. It was not till his demise in 2019 — and because the full scope of his abuse grew to become public — that the property listed the house for $88 million with the Modlin Group’s Adam Modlin. The mansion in the end bought for $51 million in 2021 to financier Michael Daffey, after the asking worth was minimize to $65 million.
Epstein, who died by suicide 2019 whereas awaiting his trial on intercourse trafficking fees, appeared to take over the house within the mid-Nineties from his longtime pal and mentor, Les Wexner.
Who Epstein permitted to see the house and what provides he would ponder appeared to be an ever-changing threshold. In 2016, when Steinberg advised displaying Abramovich and Kuzmichev the house for $150 million, Epstein informed his accountant: “[Tell] him that roman already noticed the home and i’ve turned down 250 m.”
Epstein repeated comparable claims all through the years.
In 2012, James Meiskin, on the time the top of actual property advisory agency Plymouth Companions, informed Epstein’s assistant that Russian financier Andrei Vavilov may write a verify “for $100 million or so” for the home. Epstein responded by saying, “i’ve already turned down three bids within the TWO lots of.”
The following yr, Epstein had Garfield relay to Nick Sweet that he had “turned down 240m.” And in 2015, Garfield organized a displaying for Guo Wengui after providing to “present him the home at 250 million.” Though Garfield later hinted Sweet may take into account bidding, Sweet by no means made a suggestion on the property, in accordance with his spokesperson.
However in 2009, Epstein quoted Garfield a worth of $120 million for a displaying, half of what he was asking just some years later. Brokers who had proven Epstein’s residence mentioned there was no likelihood he had obtained provides over $200 million.
“That’s most likely, completely BS,” one agent mentioned in response to questions on provides of that dimension. “That’s not true,” mentioned one other.
A number of sources confirmed that Epstein did obtain a suggestion for roughly $125 million round 2010, which he turned down.
“With Epstein, it was all the time the next quantity,” mentioned one of many brokers accustomed to the supply. The dealer mentioned Epstein shot again a counter round $175 million, which made it “fairly clear he wasn’t a vendor. It was already an above-market transaction by any stretch of the creativeness.”
Regardless of Epstein’s obvious aversion to promoting, different emails present a fixation on the Higher East Facet townhouse market.
Epstein’s associates despatched him articles from TRD, Curbed NY and different native shops about townhouses within the space, together with a narrative on artwork inheritor David Wildenstein promoting his townhouse for a then-record $79.5 million in 2017 and a $48 million townhouse itemizing in 2012. In 2014, certainly one of Boardman’s crew members put collectively a listing of off-market townhouses for Epstein’s overview.
Epstein additionally seemed to be significantly all in favour of Cohen’s actual property dealings. In 2017, Kahn sent Epstein a TRD article about Cohen cutting the price of his One Beacon Court condominium by 50 p.c.
In 2019, simply 5 months earlier than Epstein’s arrest, Kahn shared one other article about Cohen once more chopping the worth.
“Waited too lengthy,” Epstein responded.
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