Wall Street Journal says Michael Jackson’s home and personal fantasyland located at California is up
for sale and it goes for $100 million.
It is 2,700-acre ranch in Santa Ynez Valley and the amenities
includes: 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.
Initially Michael Jackson paid $19.5 million for the oak- and
sycamore-studded property in 1988 and changed the name to Neverland after Peter Pan's island dwelling.
He soon added such over-the-top amenities as a zoo and small amusement park,
which have since been removed.
The real estate company Colony Capital LLC bailed out Jackson in
2008 after he defaulted on the $24.5 million that he owed on the property.
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.
The estate was built in 1981 by real estate developer William
Bone, who called it Sycamore Valley Ranch.
Michael Jackson left the ranch in 2005 and went to reside in
another place after he was acquitted on charges of molestation in the ranch, he
lived there till his departure to the land of no return..
Colony
Capital spokeswoman Caroline Luz declined to comment about the sale
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