The luxury real estate market in the Bahamas is booming as prices rose 15% last year, more than any other tropical destination. But even in this market, the swank pads purchased by Sam Bankman-Fried and his cronies will be lucky to fetch what they were purchased for several years ago. It turns out that the the disgraced FTX crew were not only terrible at handling other people's money, but that they had poor judgment with their own property investments.
“They kind of created their own bubble market,” a Nassau-based property appraiser told Bloomberg, which published a report describing recent efforts to sell the 52 condos and offices that FTX executives spent $255 million to acquire. The report also provides some gaudy details about the style in which Bankman-Fried and his pals—who you may recall professed not to care about material things—liked to live. Here is a description of the Albany enclave where most made their home:
