Jeffrey Epstein’s Real Estate Ties

For years, the public narrative around Jeffrey Epstein focused on the mystery of his wealth.

But buried in thousands of newly released documents show that property played a role in how he operated. Across condos, clubs, ranches and an infamous townhouse, real estate often functioned as social currency to unlock doors, elevate status and make elite connections.

Take David Mitchell, the New York developer Epstein kept close for nearly a decade. On paper, the relationship makes little sense. Mitchell pitched everything from boutique condo conversions to a rebranded Herald Square hotel and even offbeat ideas like self storage in Tampa and property in Alberta. Many of the projects struggled. Epstein’s own accountant warned that one Upper East Side condo deal could return zero on a $3.48 million investment. The Life Hotel eventually fell into foreclosure.

And yet Epstein kept wiring money. Millions in loans and equity flowed to Mitchell, even as repayment grew spotty and emails showed mounting frustration. Mitchell came from a well connected New York family and could open certain doors. Epstein leaned on him for introductions, meetings abroad and even small but telling requests like help securing a Soho House membership or finding the right rabbi. The projects may have underperformed, but the relationship delivered something else.

Then there was the townhouse at 9 East 71st Street. For nearly a decade it hovered in the background of the market, technically available but never really for sale. Brokers dangled names like Ben Ashkenazy, Roman Abramovich and Steve Cohen in hopes of getting through the door. Epstein rejected some as “not rich enough” and suspected others of ulterior motives. At times he claimed to have turned down offers north of $200 million, figures that multiple brokers said were almost certainly inflated. Access to the property was tightly controlled, and showing the townhouse came across more like an audition.

A similar dynamic surfaced at Core Club. Epstein paid $100,000 as a founding member and secured a lifetime seat inside one of the city’s most exclusive rooms. When the club ran into financial trouble a decade later, emails show him stepping into the background as a quiet advisor. As co-founder Jennie Enterprise pursued a complex rescue plan with inventor Nathan Myhrvold, Epstein weighed in on structure and timing. The deal never materialized, but he positioned himself among members whose influence stretched well beyond the club’s walls.

Real estate also appears as the backdrop for others who later surfaced in the Epstein files.

The names of Tal, Oren and Alon Alexander, who are currently on trial facing federal sex trafficking charges, turned up in an FBI tip log tied to allegations connected to parties at Epstein’s Manhattan mansion. The claims are unverified and the brothers have denied wrongdoing, but the documents again place high-end homes and exclusive gatherings at the center of overlapping social and business circles.

Elsewhere, the files trace the aftereffects. Zorro Ranch in New Mexico sold at public auction in 2023 to an LLC tied to the family of former Texas state Sen. Don Huffines, with proceeds benefiting Epstein’s victims, and the buyers later sought to adjust its tax valuation in part because of the property’s stigma. Thomas Pritzker stepped down as executive chairman of Hyatt Hotels after acknowledging terrible judgment in maintaining ties with Epstein.

Emails also show Epstein tracking coverage of Palm Beach development deals, members only clubs and tax issues facing developers, and discussing a small marina investment in the British Virgin Islands with Andrew Farkas.

In many ways, the documents show that in some circles, there are many ways real estate can open doors and ultimately leave a mark long after a deal is done.

To hear more about Epstein’s real estate ties from TRD’s editorial team, be sure to check out the return of our podcast, Deconstruct, on Spotify or Apple Podcasts.

There were plenty of other real estate stories this week. Mark Nussbaum turned against his former friend and deal partner, CMBS delinquencies surged and ICE has been snapping up warehouses across the country.

Mark Nussbaum turns on former “bro” Tzali Chopp over unpaid debt

The fallout from Mark Nussbaum’s alleged escrow scandal took a personal turn, with his court-appointed assignee suing former friend and nursing home operator Tzali Chopp over a disputed $3 million loan. The lawsuit claims Chopp defaulted and now owes $6.3 million with interest, tied to funds Nussbaum allegedly siphoned from client escrow accounts as part of a broader Ponzi scheme.

CMBS delinquencies hit record, lenders abandon “extend and pretend”

The commercial real estate market’s long-running “extend and pretend” strategy is fraying, as office CMBS delinquencies hit a record 12.34 percent in January. More than half of the roughly $100 billion in securitized commercial mortgages coming due this year are unlikely to pay off at maturity, a sharp reversal from payoff rates above 80 percent in 2023 and roughly 75 percent in 2024 and 2025.

The industrial owners selling to ICE

The Department of Homeland Security plans to spend $38.3 billion to buy up warehouses and other industrial buildings to use as detention centers. Some industrial landlords are ready to play ball. The list of property owners who have sold to ICE runs the gamut from foreign investment firms, to big box retail giants, to local industrial groups.

Next up, rent freeze? Mamdani names five new members to rent board

Mayor Zohran Mamdani tightened his grip on New York’s Rent Guidelines Board, appointing five new members and securing a majority as he pushes for a freeze on rents for the city’s 2 million stabilized tenants. Mamdani named Chatnella Mitchell of the New York Community Trust as chair and added owner rep Maksim Wynn of Procida Development Group alongside public members from the Jain Family Institute, The New School and the United Auto Workers, while reappointing tenant representative Adán Soltren.

Bernie Sanders hits Mark Zuckerberg’s resi portfolio in push for “billionaire tax”

U.S. Sen. Bernie Sanders took direct aim at California’s tech elite and their sprawling real estate portfolios while headlining a Los Angeles rally for a proposed 2026 Billionaire Tax Act. Speaking at The Wiltern, Sanders blasted what he called “grotesque” levels of wealth and singled out Mark Zuckerberg, citing his 11 Palo Alto homes as evidence that billionaires can afford a one-time 5 percent tax on net worth above $1 billion.

Miami Beach condo-hotel owner torpedoes foreclosure auction with bankruptcy filing

The owner of the 87-unit Sixty Sixty Resort halted a scheduled foreclosure sale by filing Chapter 11 bankruptcy a day before the property was set to be auctioned to satisfy a $23.7 million judgment. Coconut Grove-based Bloom Hotels 6060 sought protection after a Miami-Dade judge granted final judgment to De Paz Family Investment over a defaulted $21 million loan, with the Feb. 17 auction just days away.

Harwood’s contagious distress spreads to its condos with $30M Bleu Ciel foreclosure

Distress at Harwood International has now spilled into its condo holdings, with a $30 million foreclosure notice filed against 26 units at Bleu Ciel in Uptown Dallas. Loan documents show TexasBank issued the December 2024 loan backed by the units at 3130 North Harwood Street, and while at least six condos have since sold, the alleged default puts the remaining block at risk.

Derek Jeter sells Coral Gables mansion for double his purchase price

Former New York Yankees shortstop Derek Jeter sold his seven-bedroom, seven-bathroom mansion in Coral Gables for $13.2 million, more than double the $6.5 million he paid for the home in 2018. The hall of famer and five-time World Series champion is meanwhile building a waterfront mansion in nearby Gables Estates.

Hamptons developer faces wave of default claims
Hamptons developer Jeremy Morton, who made waves with $30 million in Sag Harbor retail buys and an $8.4 million Southampton Village corner property last year, is now facing foreclosure claims that put his personally guaranteed debt at roughly $5 million. Atlanta-based U.S. Strategic Capital has sued in Suffolk County to foreclose on two East Hampton properties, alleging Morton’s Excelsior Development NY defaulted on a $3.8 million July loan that he personally guaranteed, exposing his own assets if a sale falls short.