Neverland Ranch Listed For $67 Million

Neverland Ranch Listed For $67 Million

Neverland Ranch, formerly owned by Michael Jackson, was listed yesterday for $67 million.  The listing represents a significant price reduction from when it was last listed in 2015 for $100 million.

The property was famously purchased by Michael Jackson in 1988.  He opened it as Neverland Ranch in 1994, naming it after the fantasy island in the Peter Pan story, taking inspiration from the boy who never grows up.  The property sits on a massive 2,700 acres.  It houses a private amusement park, a giant floral clock, numerous statues of children, a petting zoo, two railroads, a Ferris wheel, a pool, tennis courts, a 50-person movie theater, a dance studio, and much more.  The property is currently owned primarily by the Estate of Michael Jackson, with Colony Capital LLC owning a 12.5% stake.

Following Michael Jackson’s death in 2009, the property fell into disrepair.  After a trip to the property in 2010, Paris Jackson decided to restore the property.  She was able to do so with the assistance of Colony Capital.  In doing so, the amusement park rides, exotic animals, and Jackson-owned Neverland Valley Fire Department (an on-property emergency service for children) were removed from the property.  Forbes reported that over $50 million was spent on reinvigorating the property.

In May of 2015 the property was listed for sale for $100 million.  A link to the photos from that listing is available here.  It was de-listed in September 2016 due to a lack of interest.  The property, which has been re-named Sycamore Valley Ranch, has now been re-listed at $67 million.  The new listing, complete with pictures, is available here.

For more information on how Esquire Real Estate Brokerage, Inc. can help you in the Los Angeles real estate market, feel free to give us a call at 213-973-9439 or send us an email at info@esquirereb.com.

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