10/18/2012 10:17 am ET Updated Oct 18, 2012

Jerome Isaac, Man Accused Of Burning Delores Gillespie To Death, Working On Plea Deal

The man accused of killing an elderly woman after dousing her with gasoline and setting her on fire is reportedly working on a plea deal.

The New York Post reports the potential deal will offer 48-year-old Jerome Isaac 50 years to life in exchange for a guilty plea.

The family of Delores Gillespie, the 73-year-old woman who was torched to death last December, allegedly approves of the plan because it would spare them the pain of going through with a trial.

"Whatever plea deal is struck, it would result in a very significant sentence," Defense Attorney Howard Tanner said.

Chilling surveillance video inside the Brooklyn elevator where Gillespie was trapped and killed captured Isaac wearing an exterminator's mask and gloves while igniting the victim with a Molotov cocktail.

Isaac claimed Gillespie owed him $2,000 after working as a handyman for her.