The Strangest Thing Kevin Connolly Saw at Neverland Ranch Was… (VIDEO)

29 May 2015 | Author: | No comments yet »

Michael Jackson’s Neverland Ranch Is Officially For Sale For A Cool $100 Million.

As it turns out, the strangest thing the show’s star Kevin Connolly saw while hanging out at Michael Jackson’s Neverland Ranch with Leonardo DiCaprio was … Bubbles, Jackson’s much-publicized pet chimpanzee. 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. Connolly shared the memory with TV host Andy Cohen, who had the show’s Kevins (Dillon makes up the other half) on Watch What Happens Live. “I played with Bubbles,” Connolly confirms. (He didn’t talk about what the chimp was like.) The 2,700-acre ranch in Santa Ynez Valley features such amenities as a train station, six-bedroom house, 50-seat movie theater and a pair of lakes, It has been in limbo since Jackson’s death in 2009.

If you want to live where the King of Pop lived, you’re going to have to reach deep into your wallet: the legendary home and grounds have an astounding $100 million price tag attached to them. $100 million may seem like a hefty price tag, but the purchase comes with a lot more than your average mansion. 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. In addition to a 12,000 square foot main house that features six bedrooms, there are twenty one other buildings spread throughout the massive property.

The entire estate constitutes about 2,700 acres—an absurd amount of land for the area of the country where the property is located (in Los Olivos, CA , which is in Santa Barbara County)—and has everything from swimming pools to tennis and basketball courts to two lakes. Rodriguez/Getty Images) While it is best known as the property that Jackson turned into something resembling a child’s fantasy land, the singer’s estate no longer owns the home or grounds. Instead, it is currently owned by real estate investment firm Colony Capital, which stepped in to help the singer when he defaulted on his loans in 2008, just a year before he died. Jackson couldn’t pay an almost $25 million loan he had on the ranch, so Colony entered into a joint venture with the King for $23 million, whereby they owned the note to the home.

Not only do the remaining Jacksons not own Neverland Ranch any longer, but it apparently doesn’t much resemble the vision that the singer made it to be. While inflation helps explain part of the rise in price of the property, a valuation five times higher than what it was bought for less than three decades ago is impressive.

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