Michael Jackson’s famed Neverland Ranch just hit the market yesterday, with a listing price of $100 million. It’s no surprise, considering the property once contained a full amusement park and petting zoo on site, but it’s still an exorbitant price to pay when you really take a step back and consider, well, what may have happened there.
Jackson bought the property in 1987 and lived there continuously until 2005, when he was brought to trial on child molestation charges. Police thoroughly searched the home at the time. In 2008, Jackson failed to make a $24 million loan payment on the property, and was bailed out by a development company called Colony Capital, going into a joint title on the property.
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MJ wasn’t living there at the time, so the property fell into disrepair. When Jackson passed in 2009, Colony Capital took over as sole owners of Neverland. They renovated the property and have re-branded it as Sycamore Valley Ranch, getting rid of amusement park and other attractions. Though reports indicate that a llama still lives on the ranch.
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Instead, there’s a tennis court, basketball court, 50-seat movie theater, swimming pool, and cabana – 22 structures in total. The companies showing the property are restricting visitors, forcing potential buyers to go through “extensive qualifications” to avoid any MJ fanatics sneaking in.
So, long story short… if you have $100,000,000 to spare and are looking for a new home in Los Olivos, CA, the Neverland… err… Sycamore Valley Ranch is for you!