Michael Jackson’s once prized “Neverland” ranch is now listedfor $67 million! This is $33 mil less than the original asking price 2 years ago, when the estate was asking $100 million.
The value cap of homes in the local market is about $40 million. Now, “Neverland” is priced more reasonably for the area, according to the listing agent. The property is located 40 miles from Santa Barbara, in Los Olivos, in the Santa Ynez Valley. It stands at roughly 2,700 acres with the main home at about 12,600 square feet. With 22 on site structures and three parcels, the home can be built with multiple properties.
Michael made this his primary residence for 15 years after purchasing the home for $19.5 million in 1987. The home became somewhat of a legend for Michael’s lavish decor and on-site amusement park, animals, 50-seat movie theater, dance studio, candy room and more! Now “Neverland” is a shell of it’s former self, now named “Sycamore Valley Ranch,” with all the amusement park rides gone and only a few animals left on the property. You can still find a railroad track (minus the train) and the famous flower garden which forms the shape of a clock and reads “Neverland.”
The estate is being sold by a joint venture of Michael Jackson’s Estate and real-estate investment trust, Colony NorthStar.
Photo Souce: Jim Bartsch
Listing Agent: Joyce Rey at Coldwell Banker Previews International
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