Price of Michael Jackson's Neverland Ranch Slashed by $33 Million
- Author: Zachary Reyes Mar 02, 2017,
Mar 02, 2017, 19:29
It also was where he entertained young boys, one of whom brought molestation charges against the "Thriller" singer that resulted in a 2005 trial and Jackson's acquittal.
The California estate once known as Neverland Ranch had its price slashed by a third, to $67 million, and its brokers are downplaying the property's ties to its former owner, the late pop star Michael Jackson.
The listed price represents a significant cut from the $100 million it was on the market for previous year.
Billed at 2,700 acres, the property near Santa Barbara, California, has been renamed Sycamore Valley Ranch and is marked down significantly from the $100 million it was originally on the market for past year.
Jackson bought the ranch back in 1987, selling it for $22.5 million in 2009 before his death.
The ranch's famous railway has now been removed but the listing by real estate company Coldwell Banker shows that the floral clock with the word Neverland remains. Jackson bought the property in 1988, naming it after the make believe place in Peter Pan where children never grow up, and installing amusement park rides and an exotic petting zoo. It does, however, mention the "Disney-style train station", the 12,598 square foot main property, the 14-foot deep pool, tennis court, guest houses, dance studio, and private movie theater with a stage with trap doors.