Andrew L. Farkas is a billionaire real estate investor and founder of Island Capital Group, a merchant banking firm specializing in real estate investments. According to Wikipedia, Farkas founded Insignia Financial Group in 1990, took it public in 1993, and merged it with CB Richard Ellis in 2003 to create what became the world's largest commercial real estate services company. He founded Island Capital Group in May 2003 and serves as its chairman and CEO. Farkas is the son of Robin Farkas, chairman of Alexander's department store chain, and served as president of the Hasty Pudding Club at Harvard University.
The archive documents an extensive business and personal relationship between Farkas and Jeffrey Epstein spanning more than a decade. The two men exchanged 8,976 emails between 1990 and 2023. They co-owned American Yacht Harbor, a 127-slip marina in St. Thomas, U.S. Virgin Islands, as part of Farkas's Island Global Yachting business. Epstein purchased his 50% interest in AYH via a Membership Interest Purchase Agreement dated May 29, 2007, with an Amended and Restated LLC Agreement of the same date. In a December 2010 email, Farkas wrote to Epstein: "You are one of the blessings in my life and I cherish our friendship". According to reporting in the New York Times and other outlets, Farkas also called Epstein "one of the bravest men I've ever known" and visited him in prison. Farkas has publicly stated through a spokesperson that his relationship with Epstein was "always entirely a business one" and that he regrets the association.
A 2011 Daily Beast article stated that "Jonathan Farkas, a New York real-estate heir, has known Epstein for 35 years and visited him while he was in prison", which would date the relationship to approximately 1976. However, the article appears to conflate Andrew Farkas with his brother Jonathan, and the archive contains no correspondence predating 2009 to substantiate a 35-year friendship claim. The earliest documented communications between Farkas and Epstein in the archive are from April 2009.
Background#
According to Wikipedia, Andrew L. Farkas became a prominent figure in New York City commercial real estate in the 1990s. He founded Insignia Financial Group in 1990, took it public in 1993, purchased the brokerage firm Edward S. Gordon and Company in 1996, and sold his portfolio of residential properties to AIMCO in 1998. After merging Insignia with CB Richard Ellis in July 2003, he founded Island Capital Group, an international merchant banking firm specializing in real estate investing, real estate operating businesses, and real estate securities. Island Capital manages assets worth more than $180 billion and controls a portfolio of real estate services companies around the world.
Farkas also serves as CEO of C-III Capital Partners, a fully diversified commercial real estate services and investment management company, and as chairman of Island Global Yachting. According to the New York Times, Farkas is estimated to be worth around $2.34 billion. He is a generous donor to Harvard University, where he endowed Farkas Hall in honor of his father and serves as chairman of the Hasty Pudding Institute of 1770.
In 2005, Farkas founded Island Global Yachting as a luxury marina business, which eventually grew to include marinas around the world. In 2007, he acquired American Yacht Harbor in St. Thomas, bringing Epstein in as a 50% partner. According to multiple news reports, the two men were business partners in this Virgin Islands marina venture near Epstein's private island.
Farkas has connections to prominent real estate and media figures. In November 2009, he told Epstein about helping an unnamed client with real estate deals, including "(4) we got him out of the shellacking he took from mort zuckerman on his acquisition of 280 park for $1bb". This demonstrates Farkas's involvement in transactions connected to Mortimer Zuckerman's real estate empire.
Correspondence with Epstein#
The archive contains evidence of frequent and sustained communication between Farkas and Epstein. Their correspondence spans from at least 2009 through 2019, with scheduling exchanges continuing as late as April 2019, just months before Epstein's arrest.
Knowledge of Epstein's Incarceration
Farkas maintained active communication with Epstein during his 13-month prison sentence (July 2008-July 2009) following his 2008 conviction for soliciting prostitution from a minor. On April 16, 2009, while Epstein was still incarcerated, Farkas wrote: "How are you doing? Aren't you almost done?" Epstein replied: "three months, talk tomorrow". Farkas then responded: "We all miss you". This exchange demonstrates that Farkas was tracking Epstein's sentence timeline and actively counting down to his release. The phrase "We all miss you" suggests a group of friends who maintained contact with Epstein during his incarceration.
According to the 2011 Daily Beast article, Farkas "visited him while he was in prison" and stated: "The side I've been reading about is a side I don't know" and "Unless I've seen it, I don't focus on it". The article also mentions that Farkas attended a Yom Kippur Break Fast at Epstein's home in September 2010, where "A group of 120 friends brought their children over for a buffet dinner".
Personal Friendship
The relationship was marked by expressions of close personal friendship. On December 31, 2010, Farkas sent Epstein a New Year's message stating: "I hope that this year marks great health, new chapters, peace and prosperity for you. You are one of the blessings in my life and I cherish our friendship". On January 14, 2010, Farkas sent Epstein a photo with the message "I wore this just for you today". The previous night (January 14 at 12:29am), Epstein had written "that was fun" and Farkas responded "Huge". This suggests they had shared an evening together.
On June 17, 2010, which was Farkas's 50th birthday, an assistant called Epstein's office saying "Andrew Farkas is on the tennis court in the Hamptons...today is his birthday (he wanted me to let you know his birthday present hasn't arrived!)". The exchange shows they exchanged birthday gifts. On August 29, 2010, Farkas wrote: "I have tried to get in touch with you many times this past week to no avail. Where are you? Are you ok?", demonstrating active concern for Epstein's wellbeing.
In February 2013, Farkas inquired whether Epstein was angry with him "around something having to do with american yacht harbor". This indicates tensions that had been building for over a year before their eventual settlement agreement.
Business and Financial Matters
The two men communicated regularly about business matters and personal topics. In January 2009, Farkas forwarded Epstein information about Turner Construction closing its Dubai operations, discussing it as evidence of the financial crisis. In that same exchange, Farkas described shopping for a 170-foot sailboat, writing that he had offered $17.5 million for a vessel "built by what is arguably the finest yard in the world" with an original build price of $62 million. Epstein responded "holy s" to the Dubai news.
In November 2009, Farkas shared detailed confidential information about client real estate transactions with Epstein, including specific profit figures ($450 million, $150 million) and deal details. This demonstrates a bilateral information-sharing relationship where Farkas used Epstein as a real estate intelligence source. In the same exchange, Epstein separately flagged the Dubai real estate crisis to Farkas, showing they traded market intelligence.
In November 2014, Farkas wrote to Epstein seeking introductions and business opportunities. His requests included being introduced to Michael Ovitz to discuss a naming opportunity for a new degree in performing arts at Harvard, and discussing a "new tax free 18%-20% return" investment product. Regarding the investment product, Farkas wrote: "I would like to talk to you about who you would have me show this new tax free 18%-20% return embs product. We have traction now and I'm ready to fill it out". Epstein responded: "i would like to hear more about each before putting you in front of the animals". This suggests Epstein viewed himself as a gatekeeper to potential investors and that introductions required his approval. Farkas also mentioned that "Mort completely evaporated on me. We suspected that might happen", referring to Mortimer Zuckerman, and inquired about interest from someone named Leon.
In November 2015, the two exchanged messages about Farkas's back surgery and purchase of a new 165-foot Perini Navi sailboat, with Epstein inquiring about Farkas's surgeon and Farkas describing his medical care in detail.
Networking and Social Connections
Farkas sought Epstein's advice and connections on various matters. In June 2010, Epstein asked to meet "Stemlicht" (Barry Sternlicht, founder of Starwood Capital Group). Farkas responded: "I will be happy to introduce you to barry". Farkas thus facilitated Epstein's expansion into his social and business network.
In January 2013, he forwarded an opportunity to Epstein for someone to work "in the Caribbean working for a very important man running his island and, potentially, other facilities", asking if Epstein wanted to set up an interview. Farkas wrote: "It's a little unconventional for you, but it's in the Caribbean working for a very important man running his island and, potentially, other facilities. He has several boats, etc. It could involve you and Dena". This shows Farkas actively referring staff to work for Epstein on Little St. James or related properties, describing Epstein as "a very important man."
On December 4, 2010, Epstein emailed Faith Kates, head of Next Models (one of the world's premier modeling agencies), writing: "What is your schedule this weekend? Andrew and I are going to go shopping at BArneys,-- want to come?" Kates asked "By the way who is andrew? Farkas???" Epstein replied "Prince". Kates then said "Sure with 2 princes what's the plan?" This exchange places Farkas socializing with Epstein and the head of a major modeling agency, which is significant given Epstein's known use of modeling agencies in his trafficking operations. On December 3, 2010, Lesley Groff asked: "Did you want me to follow up with Andrew Farkas again on the Mandarin membership today? or shall I wait till Monday?". This suggests Epstein was asking Farkas to help him obtain membership at the Mandarin Oriental hotel/club.
Casual Communications
The exchanges reveal a casual familiarity. In June 2010, discussing attendance at the Montreal Grand Prix, Farkas complained about the "very pedestrian experience" with "no fancy tents or cool pit passes or parties with hot women". Epstein replied about "the intersting pussy in the pits, combined with the whining of women and engines". Farkas's unprompted phrase "parties with hot women" suggests this was a shared frame of reference between them.
In April 2009, when Farkas asked to use Epstein's helicopter for a trip between St. Thomas and St. Croix, Epstein replied "my heli is here with me", to which Farkas responded "How presumptuous of you! Did it not occur to you that I might need it?"
In April 2019, Farkas asked his assistant to schedule a call with Epstein to discuss his "Pudding list" and to ensure people filled their tables for a Hasty Pudding event. Farkas was still managing Epstein's involvement with Harvard-related philanthropy just months before Epstein's arrest.
Connections#
Farkas's primary connection in the archive is Jeffrey Epstein, with whom he exchanged 7,171 emails. Lesley Groff, Epstein's longtime assistant, appears in 425 shared emails, frequently coordinating meetings and calls between the two men. In April 2019, Groff reached out to Farkas to arrange a call, writing "Jeffrey has time for a call between 2-5pm tomorrow".
Thomas Mukamal (117 shared emails) served as CEO and later President of Island Global Yachting and communicated with both Farkas and Epstein about the American Yacht Harbor property. Frank Garrison (55 shared emails) also appears in correspondence related to IGY business matters.
Brock Pierce, a cryptocurrency entrepreneur (78 shared emails), was scheduled to meet with both Farkas and Epstein in September 2014 to discuss cryptocurrency investments. Pierce was Managing Partner of Crypto Currency Partners and was actively pitching Bitcoin investments to Epstein. When told Epstein couldn't make the September 23, 2014 appointment, Farkas replied "That's ok. I didn't really want to see him anyway", appearing to make a joke about Epstein rather than expressing genuine disinterest in Pierce. In November 2014, Pierce emailed Epstein about Coinbase: "They are doing their next round. Biggest player in the Bitcoin sector in the US. Able to meet the founder tomorrow?", showing continued efforts to connect Epstein with cryptocurrency investment opportunities.
Rich Kahn (59 shared emails) appears in correspondence related to American Yacht Harbor operations. In June 2010, Kahn disputed dock rates on behalf of Epstein (LSJ Slip C10), wanting the rate reduced from $1.16 to $0.91 per foot. The matter was "forwarded to Andrew Farkas who will be calling you", showing ongoing tensions over financial matters that predated the formal settlement agreement by several years.
Mortimer Zuckerman Relationship
Archive evidence reveals extensive connections between Farkas, Epstein, and Mortimer Zuckerman, the billionaire owner of Boston Properties, the New York Daily News, and U.S. News & World Report. In August 2009, Lesley Groff noted "Jennie Saunders" called about Epstein speaking to "Mort Zuckerman and tell him to sign the documents re the restructuring". In May 2010, staff arranged for Zuckerman to "come by and see you at the house". In another May 2010 exchange, Epstein declared "mort priority" when scheduling.
On June 13, 2010, correspondence confirmed: "Mort Zuckerman is CONFIRMED for 9am coffee tomorrow at 71st", referring to Zuckerman meeting Epstein at his Manhattan townhouse. In September 2010, Zuckerman's assistant Clare Probert (identified as "Executive Assistant to Mortimer B. Zuckerman, Boston Properties/Daily News/U.S. News & World Report") confirmed Zuckerman for an evening event (likely the Yom Kippur Break Fast), noting "he'll be coming by late because he'll be doing something with his daughters before coming to Jeffrey's home". As late as January 2016, correspondence confirmed "Coffee w/Mort 7pm tomorrow" at Mort's home.
This extensive independent relationship between Zuckerman and Epstein provides context for Farkas's November 2014 comment that "Mort completely evaporated on me. We suspected that might happen". The comment suggests Farkas was trying to bring Zuckerman into a business deal (possibly the "tax free 18%-20% return" investment product) via Epstein's connection, and Zuckerman pulled out—something Farkas and Epstein had anticipated.
Family Connection - Jonathan Farkas
Farkas's brother Jonathan Farkas also had an independent relationship with Epstein. On April 11, 2009, during Epstein's incarceration, Jonathan emailed Epstein directly: "Jeffrey, got a flight on Saturday afternoon. Can visit you Monday at about 12:30 if that is OK Jonathan Farkas". This confirms he also visited Epstein during his sentence. On June 10, 2010, Jonathan emailed Epstein: "know any rich women for me if this happens? Not calling your friend but thanks Jonathan", in response to a forwarded message about what appears to be divorce proceedings. In June 2010, an email TO Jonathan Farkas invited him to dinner with "Greg Williamson, the CIO of BP", and this correspondence appears in the Epstein email archive, suggesting Jonathan had his own independent relationship with Epstein's social circle.
Other frequent correspondents include David Dowling (76 emails), who appears to have been a Farkas assistant, and various IGY employees involved in marina management.
Document References#
American Yacht Harbor Partnership and Settlement
The archive contains multiple legal and business documents detailing the Farkas-Epstein partnership in American Yacht Harbor. A settlement agreement dated May 15, 2014 resolves a dispute between Jeffrey Epstein, Andrew Farkas, Island Global Yachting Facilities Ltd., and IGY-AYH St. Thomas Holdings, LLC. According to the settlement, the dispute concerned "the purchase price paid by Epstein for his 50% interest in AYH pursuant to the Membership Interest Purchase Agreement" dated May 29, 2007. This suggests Epstein believed he had overpaid or that the value was misrepresented.
The settlement required IGYF to pay Epstein $292,655. Management fees were reduced from 7.5% to 5% of gross receipts. Performance bonuses were eliminated without Epstein's written consent (at his sole discretion). Epstein received a 20% fuel discount for his vessels and a 10% dockage discount on slip fees. The agreement specified that Epstein would receive dockage at a fixed rate of $0.96 per day per foot. Epstein retained the right to use a slip for a vessel up to 75 feet at no charge (per the original Side Letter). The lease was assigned from Financial Trust Company to Southern Trust Company (both Epstein entities), with favorable terms at $6,062 per month base rent, frozen with no CPI increases for the first option term through September 2019. Epstein was entitled to receive annual budgets, quarterly financial statements, and independently audited financials. Certain fees would be waived for Epstein and his affiliates.
The settlement included a mutual release of all claims "from the beginning of the world". Epstein's entities named in the agreement included Financial Trust Company, Southern Trust Company, L.S.J. LLC, Island Grounds Inc., LSJE LLC, and Nautilus Inc. The agreement was signed by Jeffrey Epstein, Thomas Mukamal (as President of IGYF and AYH), and Andrew L. Farkas personally. It was notarized in the U.S. Virgin Islands and New York. Mark Lande, General Counsel of IGY, was listed as a contact; Darren K. Indyke served as Epstein's attorney.
The settlement demonstrates that rather than Farkas providing financial support to Epstein post-conviction, Epstein was extracting substantial financial concessions from the partnership. The partnership continued functioning normally after 2008, with both partners receiving joint business updates from management.
A July 2015 memorandum from Thomas Mukamal to Andrew Farkas and Jeffrey Epstein jointly outlined the asset management strategy for American Yacht Harbor, detailing capital infrastructure spending, working capital surplus of $1.8 million, and challenges including a loan refinance with Banco Popular maturing in 2017 and the need for long-term marina refurbishment estimated to cost between $4 million and $5.5 million. The memo noted that capital spending had increased from $123,746 in 2013 to a projected $400,000 in 2015. This demonstrates the partnership continued post-settlement with both partners receiving joint management updates.
Virgin Islands Business Interests
An April 2013 memorandum from Andrew Farkas to Governor John de Jongh, Richard Carrion, Jeffrey Epstein, and Joe Bolschulte proposed a potential joint venture between the West Indian Company Ltd., Island Capital Group LLC, and the Virgin Islands Port Authority to operate cruise ship terminals in the USVI. The memo analyzed economic challenges facing the Virgin Islands and competitive threats from St. Maarten, proposing a public-private partnership to enhance the Territory's position in the cruise ship industry. The inclusion of Epstein as a recipient alongside the USVI governor is notable—it suggests Epstein was viewed as a key stakeholder in USVI business matters and that their Virgin Islands interests were intertwined beyond just the marina.
According to reporting in Politico and other outlets, both Farkas and Epstein benefited from tax incentives granted by the US Virgin Islands Economic Development Authority, which significantly reduced their personal and corporate tax liabilities. JPMorgan Chase estimated in earlier litigation that Epstein saved hundreds of millions of dollars through Virgin Islands tax arrangements.
Harvard and Hasty Pudding Connections
Solicitation letters from Farkas to Epstein document sustained efforts to secure donations for the Hasty Pudding Institute of 1770. On December 13, 2012, Farkas requested $25,000 for "Fraternal Order of The Friendly Alligator" membership, honoring Michael Lynton of Sony Pictures. In the letter, Farkas described his gift to Harvard that financed renovation of the building now called Farkas Hall.
A subsequent letter requested $50,000 for a "Guardian of the Sphinx" renewal for the 3rd Order gala honoring Clive Davis (April 2015). The letter stated the Pudding "does not receive one penny of funding from Harvard", meaning Farkas had full control over who donated. A 2017 solicitation letter requested $50,000 for a gala honoring Paris Barclay. Another 2017 solicitation repeated the same $50,000 ask for the Paris Barclay gala.
A 2014 gala program confirmed "The Jeffrey Epstein VI Foundation" and "The Andrew L. Farkas Family" were BOTH listed as "Guardian of the Sphinx" donors at the $50,000+ level. Other donors at the same level included "Elizabeth R. Miller & James G. Dinan", "Anne & Christopher Flowers", and "Eva & Glenn Dubin". At the $25,000 "Fraternity of the Social Alligator" level, "Eva & Glenn Dubin" appears again. At the $10,000 "Stirrers of the Pot" level, "Brad Farkas" (another Farkas family member), "Frank Garrison", "George Carleton", and "Bill Ackman" were listed. Notably, the Dubin family (Glenn Dubin has been accused in connection with Epstein) appears as donors alongside Epstein's foundation.
This shows Farkas solicited Epstein at least four times (2012, 2014/2015, 2015, 2017) for Hasty Pudding donations, requesting increasingly larger sums ($25,000 then $50,000). The 2014 gala program confirms the Jeffrey Epstein VI Foundation donated at the highest public level. This occurred POST-conviction, meaning Farkas actively facilitated Epstein's charitable connections to Harvard despite his registered sex offender status.
A 2011 Daily Beast article about Epstein's social circle mentioned that "Jonathan Farkas, a New York real-estate heir, has known Epstein for 35 years and visited him while he was in prison". The article quoted Farkas saying "The side I've been reading about is a side I don't know" and "Unless I've seen it, I don't focus on it". The article appears to conflate Andrew Farkas with his brother Jonathan, though the content about the business relationship (investment advice, 35-year friendship, the AYH partnership) clearly refers to Andrew Farkas. A note at the bottom of the article from Jonathan ("nothing to [worry] about thsi jonathan") suggests Jonathan was being reassured about the article's content.
Visits to Epstein Properties#
The archive documents efforts to arrange meetings between Farkas and Epstein at various locations, though the exact number of completed visits is difficult to determine from the correspondence:
Manhattan townhouse: Multiple scheduling attempts are documented. In April 2019, Epstein's assistant offered meeting times for Thursday April 4 (8:30am breakfast, 12:00pm lunch, or after 5:30pm) and Friday April 5 (8:30am breakfast, 12:30pm lunch, or after 6pm). Farkas initially could not accommodate those times, but later asked about an 8am breakfast Friday or Saturday. On April 5, Groff reached out again offering a call window between 2-5pm on Saturday, April 6. By April 8, Farkas's assistant noted they "didn't get connected this weekend" and requested a 3pm call. Additional references appear to in-person meetings in New York in November 2014, when Farkas wrote "I am here all week. Just let me know" in response to Epstein asking about getting together. In July 2010, they scheduled a 6:30pm meeting at "your place".
U.S. Virgin Islands: Farkas and Epstein's business partnership centered on American Yacht Harbor in St. Thomas, which they co-owned. In January 2013, Farkas invited Epstein to join him for dinner at the fine dining restaurant at Yacht Haven, noting "There is no place to land the chopper that I have been able to identify" and suggesting Epstein could fly into the airport where "we have escalades that routinely pick up yacht owners". The January 2013 invitation was sent from Farkas's C-III Capital Partners email address, as evidenced by the standard C-III confidentiality footer on the message. In April 2009, Farkas requested use of Epstein's helicopter for a "quick stt/stc/stt trip to meet with officials", referencing St. Thomas and St. Croix.
Palm Beach: The New York Times reported and Boing Boing noted that Farkas made "regular pilgrimages to Palm Beach" to visit Epstein, though specific dates are not documented in the email threads reviewed.
Prison visit: According to the 2011 Daily Beast article and subsequent reporting, Farkas visited Epstein while he was incarcerated in Florida following his 2008 conviction. His brother Jonathan also visited Epstein during this period, as confirmed by Jonathan's April 11, 2009 email.
Other locations: No visits to Little St. James island, the New Mexico ranch, or the Paris apartment are documented in the archive.