Michael Jackson’s Estate In Neverland Is Now More Affordable Than You Thought.

Michael Jackson’s Estate In Neverland Is Now More Affordable Than You Thought. Back in February, listing agents Compass said the agents representing the ranch had found potential buyers. However, no deal could be struck with the seller Colony Capital, Business Insider reported. Jackson bought the Neverland estate, originally known as the Sycamore Valley Ranch, in 1988 for an amount between $19.5 million and $30 million.

In 2003, jackson was charged with child molesting, serving alcohol to a minor, conspiracy and kidnapping. After his arrest, cops carried out extensive raids at the ranch and jackson decided to move out. Two years later, he was found not guilty of all charges. Jackson later defaulted on a loan and entered Neverland into an ownership with Colony Capital in 2008. However, in 2009, before his death, he sold it to Colony Capital for $22.5 million. The estate has had a tumultuous time on the market. As the Wall Street Journal notes, it was originally listed for $100 million in 2015 and then the price was cut to $67 million in 2017; after briefly being taken off the market, it has now been reintroduced at an asking price of $31 million. The 12,598-square-foot, six-bedroom, nine-bathroom ranch is located 40 miles from Santa Barbara. The estate also includes three separate guest houses, a movie theater, several barns, a pool, pool-house and tennis court. The property includes 2,698 acres of land.

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