After listing for $100 million in 2015, this marks the third attempt to sell the late pop star's former playground.
The price keeps plummeting for Michael Jackson’s famed Neverland Ranch. After listing for $100 million in 2015, the late pop star’s former playground is back on the market for $31 million.
Jackson paid $19.5 million for the iconic estate in the late 1980s, but after the singer defaulted on a loan, real estate investment firm Colony Capital bought it in 2008 for $22.5 million.
Spanning 2,700 acres in the Santa Ynez Valley, the park-like property has recently been rebranded as Sycamore Valley Ranch. A four-hour documentary titled “Leaving Neverland,” which shares the accounts of two men claiming Jackson sexually abused them as children at the home, airs next week on HBO.
A 12,000-square-foot mansion designed by architect Robert Altevers anchors the grounds. Built in the French Normandy style, it holds six bedrooms and nine bathrooms, including a master wing with its own garden.
Nearly two dozen other structures populate the property, including three guesthouses, a movie theater with a stage, a brick train station and equestrian facilities such as barns, animal shelters, corrals and a maintenance shop. Under the train station, colorful shrubs depict a floral clock with the word “Neverland.”
The landscape, which Compass listing agent Kyle Forsyth calls a “naturalist’s paradise,” consists of mountains, tree-covered fields and grassy plains. In addition, there’s a four-acre lake with a waterfall.
This marks the third attempt to sell the estate. After asking nine digits four years ago, the ranch was offered at $67 million in 2017.
Jackson was regarded as a global icon during his career, and his album “Thriller” is the best-selling record ever. He died in 2009 at age 50.