clock menu more-arrow no yes mobile

Filed under:

Michael Jackson’s Neverland Ranch returning to market at a deep discount

New, 4 comments

The asking price has dropped $33 million

Michael Jackson Neverland Home Photo by Jason Kirk/Getty Images

Michael Jackson’s former Neverland Ranch estate made a well-publicized debut on the real estate market in 2015, asking an impressive $100 million, but it failed to find a buyer. Now, the Wall Street Journal reports that it will soon be back up for grabs for about one-third off that initial asking price.

Going by the much-less-fun moniker of “Sycamore Valley Ranch,” the massive property is asking $67 million. It’s reportedly been fully renovated and restored—though some of the more fun amenities, such as an amusement park and an elephant, have long-since been removed.

The Los Olivos estate includes 22 separate structures and spreads across 2,700 acres (that’s more than half the size of Griffith Park). Highlights include a train depot and tracks (though buyers will have to supply their own train), a 50-seat movie theater, fire station, and Jackson’s famous floral clock that spells out “Neverland.”

Jackson bought the property in 1987 for $19.5 million. In 2008, a year before his death, Jackson defaulted on a loan backed by the ranch, but was bailed out by Colony Capital, which is now selling the ranch in a joint-sale with Jackson’s estate.

Meanwhile, Colony Capital (now Colony Northstar) founder Thomas Barrack is hard at work on a lavish estate of his own. The investor is building a Bel Air megamansion that promises to be one of the largest in Los Angeles.