Former Neverland ranch for sale at $100 million

30 May 2015 | Author: | No comments yet »

Former Neverland ranch for sale at $100 million.

Now dubbed Sycamore Valley Ranch, the 2,700-acre spread retains the floral clock, railroad tracks and train station that were installed during Jackson’s ownership. It is said viewers of the mansion and 2,700 acre estate – which he bought in 1987 and lived in for more than 15 years – have been put off by a ghostly presence.NEW YORK — The sprawling Neverland ranch in California once owned by the late pop star Michael Jackson is for sale for $100 million, Sotheby’s International Realty has confirmed. However, the amusement park rides it was once famous for have now gone, as have the orangutans and an elephant that used to live there with the eccentric singer. “I found it really odd and different, but I wasn’t scared at any moment.

Located in Los Olivos, about 40 miles from Santa Barbara, the property has 22 buildings including a six-bedroom, 12,00-square-foot home, and two guest houses. But an expert said the price tag is “optimistic,” given the unproven charges of child molestation which tainted Jackson’s final years before his death in 2009.

The pop icon, who got his start with the Motown family group the Jackson Five, had such hit albums as “Thriller.” He bought the property for $19.5 million in the late 1980s from golf course entrepreneur William Bone. Terrill, File) The California property that once served as Michael Jackson’s home and personal fantasyland is being listed at $100 million, according to the Wall Street Journal. After financial troubles, in 2008 he handed over the title to the ranch to the investment firm Colony Capital, which held his $23-million loan on the property. “We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property,” the singer’s estate said in a statement on Friday. An online property listing included pictures of the Normandy-mansion property, complete with pools and fountains, bridges and a decorative shrubbery with the name “Neverland” spelled out above a beflowered clock face. “There is obviously a lot of affection for him and his talent,” Randall Bell, a specialist in valuing stigmatised properties, told the Los Angeles Times. “But it’s hard to get by the fact that Neverland is closely associated with child molestation. Jackson originally paid $19.5 million for the oak- and sycamore-studded property in 1988 and rechristened it Neverland after Peter Pan’s island dwelling.

Jackson, a former child star whose hits included Thriller and Billie Jean, was one of the most successful entertainers of all time and the recipient of 13 Grammy Awards. He named the property — located in Southern California about 60 kilometres northwest of Santa Barbara — after the land in the fairy tale of Peter Pan by author JM Barrie about a boy who refused to group up. The property, in the Santa Ynez Valley community of Los Olivos, centers on a Normandy-style mansion of 12,000 square feet with six bedrooms and staff quarters.

Despite rumors after Jackson’s death that the hilly property might be transformed into a Graceland-like homage to the King of Pop, Colony Capital has quietly maintained the ranch located about 150 miles north of Los Angeles. A 50-seat theater, a four-bedroom guesthouse and a two-bedroom guesthouse are among nearly two dozen other structures on the estate. “We’re going to be very particular,” said Jeffrey Hyland of Christie’s affiliate Hilton & Hyland, which shares the listing with Sotheby’s International Realty’s Suzanne Perkins and Harry Kolb. “In this case, we’ll only show to those who are super-qualified and that we know have a definite interest in buying.” Christened Villa Maggio by the Oscar winner as a nod to the character he played in “From Here to Eternity,” the hideaway is reached by way of a gated road or by air.

Supermodel Cindy Crawford and husband Rande Gerber have listed Malibu house for $15.45 million — more than 21/2 times what they paid for the Traditional-style home less than a year ago. Listing details from the time of their $6-million purchase show the same amount of space at 3,651 square feet, but the before and after interiors bear little resemblance to each other.

Mark Duplass and his wife, actress Katie Aselton, have entered an elite league with the purchase of a Barbara Bestor-designed contemporary in Silver Lake. Within the 7,256 square feet of living space are a gallery entry with a built-in fish tank, a chef’s kitchen with a breakfast bar and a maid’s quarters with a separate entry.

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