Former Goldman exec behind Epstein townhouse buy: report

Michael Daffey reportedly bought the Upper East Side mansion with cash and a bridge loan

New York /
Mar.March 16, 2021 06:30 PM
Jeffrey Epstein and Michael Daffey with 9 East 71st Street (Getty)

Jeffrey Epstein and Michael Daffey with 9 East 71st Street (Getty)

A former Goldman Sachs executive is behind one of the biggest — and most notorious — residential sales this year.

Michael Daffey, who managed some of the investment bank’s hedge fund clients, is the buyer of Jeffrey Epstein’s Upper East Side townhouse, Business Insider reported. A spokesman for Daffey said he used cash and a bridge loan for the $51 million purchase.

Proceeds from the sale will go to Epstein’s estate, which has established a fund for his alleged victims. The disgraced financier and conviced sex offender was facing sex trafficking charges when he died by suicide in a Manhattan jail in 2019.

The 28,000-square-foot home at 9 East 71st Street first hit the market last June, asking $88 million. It got a $23 million price chop in January, and went into contract in early March. The final sale price works out to 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 a former associate of Epstein’s, acquired it in 1989. Epstein bought the home for $20 million in 1998.

A month prior to Epstein’s death, it was estimated that his properties were worth around $180 million. Developer Todd Michael Glaser recently paid $18.5 million for Epstein’s former Palm Beach mansion, just under its asking price of $22 million. Glaser plans to demolish the home.

Epstein also owned homes in New Mexico, the Virgin Islands and Paris.

[Business Insider] — Danielle Balbi


Related Articles

arrow_forward_ios
The house on Britten Street in Chelsea, London (Harding Green, Getty)
School-bus sized London apartment lists for $1.4M
School-bus sized London apartment lists for $1.4M
Suzy Welch and 834 Fifth Avenue #7B (Streeteasy, Getty)
Suzy Welch sells Fifth Avenue co-op at a discount
Suzy Welch sells Fifth Avenue co-op at a discount
55 Mercer Street (Zillow)
Jersey City single-family home sets sales record
Jersey City single-family home sets sales record
Unit 124 at 217 West 57th Street and Gary Barnett (Extell Development, StreetEasy)
“124th floor” at Central Park Tower tops Manhattan luxury contracts
“124th floor” at Central Park Tower tops Manhattan luxury contracts
Alibaba Group's Michael Evans with 1080 and 1100 Meadow Lane (Zillow, Getty, Alibaba Group)
Alibaba prez scores $66M for oceanfront Hamptons properties
Alibaba prez scores $66M for oceanfront Hamptons properties
Frank Lloyd Wright and 7,000-square-foot modernist residence in Weston, Massachusetts (Gibson Sotheby's International Realty, Getty)
Mansion inspired by Frank Lloyd Wright lists for $38M
Mansion inspired by Frank Lloyd Wright lists for $38M
Midwood's John Usdan and 150 East 78th Street (Midwood Investment & Development)
Midwood sells $33M penthouse at UES condo project
Midwood sells $33M penthouse at UES condo project
160 Ox Pasture Road (Tim Davis Hamptons)
Southampton’s Linden Estate trades for $70M in long-awaited sale
Southampton’s Linden Estate trades for $70M in long-awaited sale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...