Sotheby’s Puts $100 Million Price Tag On Michael Jackson’s Neverland Ranch
Neverland ranch, the infamous 2,700-acre estate in California that once belonged to the late pop star Michael Jackson, is up for sale by Sotheby’s International Realty and Hilton & Hyland, according to the Wall Street Journal.
The estate, once called Sycamore Valley Ranch, is now much more like it was before Jackson installed the amusement park rides and zoo that Neverland is famous for. But the swimming pool, basketball and tennis courts, movie theater, and once-functional firehouse remain in memoriam of Jackson’s utopian home.
The ranch, which Jackson bought for $19.5 million in 1987, is on the market for $100 million, a pretty good return for Colony Capital, the investment firm that helped Jackson pay for the property when he struggled to maintain the cost (see Equatorial Guinea Vice President Forfeits Mansion to Save Michael Jackson Memorabilia Collection).
The pop star lived at Neverland for over 15 years, during which time he worked on his 1991 album Dangerous, in between entertaining guests from high-profile investors to terminally-ill children.
Despite the once public nature of the estate-cum-amusement park, the listing agents are careful to keep viewings to a minimum. All potential buyers must meet “extensive prequalification” before viewing the property (see Tour Damien Hirst’s Many Real Estate Holdings).
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