Michael Jackson’s Neverland Ranch On The Market For $67 Million
Michael Jackson’s famed Neverland Ranch is back on the housing market, and listed at $67 million.
NEVERLAND RANCH ON SALE FOR $67 MILLION
The ranch is roughly 2,700 acres and since the singer’s passing has been renamed Sycamore Valley Ranch. The asking price was slashed by nearly a third from the $100 million it was listed at last year.
The reason for the price cut, according to agent Joyce Rey of Coldwell Banker Previews International, is to keep the property more in line with neighboring areas, which have topped out at around $40 million.
Within the property lines are a 12,598 sq. foot main residence and a 3,700 sq. foot pool house, plus a 50-seat movie theater, dance studio, fire house, barn, and a “Disney-style” train station. The main home features five bedrooms and staff annex, five fireplaces, and 18th century French oak flooring taken from two French chateaus.
Jackson bought the house originally in 1987 for $19.5 million. After using it as collateral for a $24.5M loan and defaulting on it, Colony Capital bought it in 2008 and set up a joint ownership with the singer. The company is headed by Thomas Barrack, a friend and fundraiser for Donald Trump. Jackson died in 2009.
— ABC News (@ABC) March 2, 2017