Last spring, hedge fund director and billionaire Philip Falcone listed a rather spectacular estate on St. Bart’s; the two-acre hilltop property known as ‘Grande Maison des Etoiles’ is still on...

Hedge-fund director Philip Falcone—founder of Harbinger Capital—has put an estate in the Antilles up for sale. He is looking for a new owner with $57.4 million to spend. Falcone purchased...