Crime: Jeffrey Epstein's $56 million mansion could become a real estate nightmare - PressFrom - US
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CrimeJeffrey Epstein's $56 million mansion could become a real estate nightmare

21:05  12 july  2019
21:05  12 july  2019 Source:   marketwatch.com

Jailed financier Epstein seeks to be released under house arrest

Jailed financier Epstein seeks to be released under house arrest American financier Jeffrey Epstein on Thursday asked a federal judge to let him out of jail and allow him to remain under house arrest as he awaits trial on charges of sex trafficking underage girls. In a filing in federal court in Manhattan, Epstein's lawyers argued that home confinement, along with electronic monitoring, surveillance and a bond secured by a mortgage on his $77 million Manhattan mansion would be enough to ensure that he does not flee the country.

Jeffrey Epstein ’ s townhouse has seven floors and a heated sidewalk.CreditCreditYana Paskova for The From the street , Mr. Epstein ’ s Manhattan mansion has features that make it a commanding presence on Matthew Haag covers the intersection of real estate and politics in the New York region.

Jeffrey Epstein ’ s townhouse has seven floors and a heated sidewalk.CreditCreditYana Paskova for The Mr. Epstein , however, was not even supposed to become the owner of the opulent stone house on From the street , Mr. Epstein ’ s Manhattan mansion has features that make it a commanding

Jeffrey Epstein's $56 million mansion could become a real estate nightmare© Kevin Hagen/Getty Images Jeffrey Epstein's Upper East Side home on the Upper East Side of Manhattan. Epstein is charged with running a sex-trafficking operation out of his mansion. He denies the allegations.

Jeffrey Epstein lived in what’s reportedly one of the largest private homes in Manhattan, where he allegedly sexually abused underaged girls, an allegation so horrific, real-estate experts say people will go out of their way to avoid walking down the block.

Epstein has pleaded not guilty to the charges.

Epstein’s seven-story, 21,000-square-foot Upper East Side home near Central Park is reportedly valued at $56 million, and if the home ever hits the market again, the stigma from the financier’s alleged sex-trafficking scandal will likely diminish its worth.

Bill Clinton 'knows nothing' about financier Jeffrey Epstein's 'terrible crimes,' former president's spokesman says

Bill Clinton 'knows nothing' about financier Jeffrey Epstein's 'terrible crimes,' former president's spokesman says Bill Clinton "knows nothing" about the "terrible crimes" linked to Jeffrey Epstein, the former president's spokesman said Monday, in Clinton's first statement after new sex-trafficking charges were lobbed against the wealthy financier. "In 2002 and 2003, President Clinton took a total of four trips on Jeffrey Epstein’s airplane: one to Europe, one to Asia, and two to Africa, which included stops in connection with the work of the Clinton Foundation," the statement said. "Staff, supporters of the foundation, and his Secret Service detail traveled on every leg of every trip.

Jeffrey Epstein ’ s townhouse has seven floors and a heated sidewalk. Mr. Epstein , however, was not even supposed to become the owner of the opulent stone house on the Upper East Side. From the street , Mr. Epstein ’ s Manhattan mansion has features that make it a commanding presence on

Jeffrey Epstein ’ s townhouse has seven floors and a heated sidewalk. Mr. Epstein , however, was not even supposed to become the owner of the opulent stone house on the Upper East Side. From the street , Mr. Epstein ’ s Manhattan mansion has features that make it a commanding presence on

“After an event like this occurs, and the public becomes aware of it, all of a sudden the value drops significantly,” real-estate appraiser Orell Anderson, who valued the homes where Nicole Brown Simpson and JonBenet Ramsey were murdered, told MarketWatch.

One might find what’s inside the mansion disturbing even without knowing the harrowing acts that occurred inside. The home is reportedly adorned with unsettling decor choices, like a female doll hanging from the chandelier, and a self-portrait Epstein reportedly commissioned of himself portrayed in a prison scene behind barbed wire in the middle of a corrections officer and a guard station, according to The New York Times. All of those adornments, of course, would be removed in lieu of any sale.

Jeffrey Epstein proposes staying in his Upper East Side mansion to await trial for sexually abusing girls

Jeffrey Epstein proposes staying in his Upper East Side mansion to await trial for sexually abusing girls Multimillionaire financier Jeffrey Epstein proposed locking himself up in the Upper East Side mansion where he is accused of sexually abusing underage girls while he awaits trial. The plan for Epstein to remain in the seven-story townhouse on E. 71st Street monitored by private security guards was part of a 16-page memo outlining a possible bail package. The government argues that Epstein is a flight risk and that he should remain in federal lockup on charges of conspiracy and sex trafficking. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.

Mr. Epstein , 66, is doubtless very rich: His real estate alone — one of Manhattan’ s largest private mansions , a Palm Beach estate , a Paris apartment, his own Caribbean island and a huge New Mexico ranch — is worth more than 0 million . Mr. Epstein sold 56 ,000 shares at 1 each that month.

The 21,000-square-foot mansion at 9 East 71st Street is reportedly worth around $ 56 million , and is one of the largest private homes in Manhattan. The worst of what was found inside was, of course, all the child pornography, but that's not all. Click through for some of the weirdest features of Epstein ' s

Related video: NYT report sheds light on Jeffrey Epstein's wealth and Wall Street ties (provided by CNBC)

When tragedy or crime occurs at a home, it could take years before it ever sells, even if it’s a high profile residence. And when it does, the buyer usually gets a discount on it, and the market value could take years to bounce back, if it ever does, Anderson says.

Homes where something as extreme as a murder occurs can often decrease a property’s value by 25% because of physical damages to the house like blood stains, or the lingering smell of dead bodies, Anderson explains. Then there’s the stigma of living in a house where someone was killed, or a tragedy happened.

After O.J. Simpson’s former wife Nicole Brown Simpson and her 26-year-old friend Ron Goldman were found dead outside of her Brentwood home in 1994, Brown Simpson’s family tried to sell it, but no one wanted to buy a home where a double homicide occurred.

Epstein Paid $350,000 to Tamper With Witnesses, Prosecutors Say

Epstein Paid $350,000 to Tamper With Witnesses, Prosecutors Say The accusations were made by federal prosecutors who want to deny bail for Mr. Epstein, the financier facing sex-trafficking charges.

Epstein , a financier with a private Boeing 747 and six homes across the globe, faces In many ways, real estate is at the heart of a scandal that could sweep up some of the world’s most rich and powerful people. Though the federal government values Epstein ’ s Manhattan townhouse at million , the

At the base of the stairwell, one of the visitors said, Mr. Epstein had placed a chess board with custom figurines, many dressed suggestively — each A wall of the study was covered with photographs of famous people, including Woody Allen, and another that Mr. Epstein pointed out was of Crown Prince

The house was on the market for two years before it finally sold for a fraction of what Brown Simpson paid for it. She purchased the home for $625,000 and it sold for $525,000, according to Realator.com. And in 1974 when Ronald DeFeo murdered an entire family in the “Amityville Horror House,” it sold for a $250,000 loss in 2017.

Jeffrey Epstein's $56 million mansion could become a real estate nightmare© Getty Images The previous residents of the Amityville Horror house claimed they were driven out by paranormal activity shortly after moving into the house in 1975 where six members of the DeFeo family were murdered. It reportedly sold for a $250,000 loss in 2017. (Photo by Paul Hawthorne/Getty Images)

New York City-based real-estate appraiser Jonathan Miller says even cursed homes see resiliency.

“Whenever there is a tragedy, generally speaking, at least in New York, the property in the short-term would take a significant hit to what its potential would be,” Miller explained.

He said Epstein’s Upper East Side mansion is especially unique because there’s only a handful like them on the block near Central Park. “I find that within a few years that generally fades away and even accelerates when you have a unique property or housing shortage.”

The Latest: 2 accusers speak at Epstein bail hearing

The Latest: 2 accusers speak at Epstein bail hearing NEW YORK (AP) — The Latest on the bail hearing for Jeffrey Epstein (all times local): 12:30 p.m. Two of Jeffrey Epstein's accusers have spoken at his bail hearing. Courtney Wild said Monday in Manhattan federal court that she was abused by the wealthy financier in Palm Beach, Florida, starting at age 14. She calls him a "scary person" and urges detention "for the safety of any other girls" out there. Annie Farmer says she was 16 when she "had the misfortune" of meeting Epstein and later went to spend time with him in New Mexico. She says he behaved inappropriately. She declined to give details. The judge says he'll announce his decision on bail Thursday.

Jeffrey Epstein ' s $ 56 million Upper East side townhouse is one of the largest private homes in Manhattan. It was raided by the FBI on Saturday and they allegedly uncovered The $ 56 million New York townhouse where Jeffrey Epstein is accused of abusing young girls has a life-sized female doll

The townhouse where the financier Jeffrey Epstein is accused of engaging in sex acts with underage girls is one of the largest private homes in Manhattan, a sho. A person who visited the townhouse last year remembered Mr. Epstein doing work at the mansion while seated at a large dining table in the

How to salvage and attempt to sell a cursed property

Once the dust settles after a tragedy, there are physical changes that can be made to present the property in a new light.

“It’s best to make the house look different from the pictures of it in the media so that people don’t immediately recognize it.” Anderson says, of changing the facade. “Put in more lights or change the color of the walls so there’s a perception that things have changed.”

That could mean investing in landscapers to add more plants to the front entrance to make it look more inviting, or changing the color of the home to make it appear brand new so perspective buyers don’t associate the property with it’s dark history.

However, real-estate agents are typically obliged to reveal the history of a house, especially if there were serious crimes committed there such as a murder, to a prospective buyer.

To boost the value of Brown Simpson’s home, it underwent a massive renovation and an address change so prospective buyers wouldn’t associate the condo with its past. It took more than a decade to bounce back selling for $1.72 million in 2006, according to Realator.com.

In the DeFeo murder home, granite counter tops, a heated sun room, fireplace and home sprinkler system were added likely to help boost the value in 2016 before it sold a year later.

Jeffrey Epstein Willing To Post $100 Million Bail

Jeffrey Epstein Willing To Post $100 Million Bail ​Epstein’s lawyer told a judge during a bail hearing that his client was "ready to sign" for bail no matter the cost. Last week, Epstein's lawyers proposed a bail package that would let the multimillionaire await trial while under house arrest at his Manhattan home. The judge said he plans on deciding whether or not to let him go on Thursday. Epstein was arrested earlier this month and charged with sex trafficking of minors, as well as conspiracy to commit sex trafficking of minors. Federal prosecutors, as well as two of Epstein's accusers, urged the judge to deny him bail.

Inside Epstein ’ s $ 56 Million Mansion : Photos of Bill Clinton, Woody Allen and Saudi Crown Prince. Under Mr. Greenberg and another top executive, James Cayne, Mr. Epstein “did well enough to become a limited partner — a rung beneath full partner,” Vanity Fair reported.

Jeffrey Epstein ' s New York Mansion Is Reportedly Full of Psycho Shit. Per the New York Times, Epstein ’ s $ 56 million Manhattan home contained a number of features that, even if he weren’t an alleged child molester, would easily be considered deeply weird.

Homes where tragedies occur can be redeveloped, turned into memorials or destroyed

Anderson says another way to restore a property that’s been plagued by crime or violence is to demolish it and rebuild something completely new, like turning a single-family mansion into an apartment building or office space depending on what zoning and land laws permit.

“If you had the kind of money, you could tear down the home and make it into something different,” Anderson said. In other cases, like an act of terrorism or a mass shooting, sometimes homes or the place where a tragedy occurred are destroyed all together, Anderson noted.

Some buyers hire energy healers to chase away evil spirits and bad vibes

When the DeFeo murder home first sold in 1975 after he was convicted, the buyers reportedly moved out nearly a month after they moved in because they allegedly heard voices telling them to “get out.” It could be worth getting an energy healer or spiritual leader to come in and cleanse the house, Anderson says, to put potential home owners at ease.

“If your market demands it, you could get your local priest or energy healer to come exercise the bad spirits. It might sound ridiculous, but that seems to be calming for people who believe in ghosts, or have superstitions,” Anderson says.

Billionaire Jeffrey Epstein Arrested In New York On Sex Trafficking Charges.
Wealthy financier and registered sex offender Jeffrey Epstein was arrested Saturday in New York on new sex-trafficking charges involving allegations that date to the early 2000s, according to law enforcement officials. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.

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