Saturday, August 31, 2019

Michael Jackson's Neverland Ranch is on the market for nearly 70% off its original price. Here's a look inside the 2,700-acre property

michael jackson ranch — Jackson's former property was originally listed for $100 million.

Michael Jackson's famed Neverland Ranch is on the market for $31 million, less than half its previous asking price.
The property has been on and off the market for more than four years despite millions of dollars in renovations, price cuts, and a new name.
It was originally listed for $100 million in 2015, discounted to $67 million two years later, and slashed to $31 million in 2019.
Jackson's former 2,700-acre property boasts a French Normandy-style 12,598-square-foot main residence, two guest houses, a lake, a 50-seat movie theatre, a tennis court, a 14-foot lagoon-style pool, a barn, and a Disney-themed train station.

Michael Jackson's famed Neverland Ranch is back on the market for $31 million, less than half of its previous listing price of $67 million.

In 2015, the 22,700-acre property hit the market for a whopping $100 million under a new identity as Sycamore Valley Ranch.

But the 12,598-square-foot French-Normandy style residence located in Los Olivos, California sat on the market for two years before its price was slashed to $67 million in 2017.

Jackson, who bought the property for $19.5 million in 1987, defaulted on a loan after financial hardships and entered Neverland into an ownership agreement with private investment firm Colony Capital in 2008 for $23 million, according to ABC News.

After millions of dollars in renovations, the 2,700-acre ranch boasts a main residence with five bedrooms and eight bathrooms, two guesthouses, a four-acre lake, a 50-seat movie theatre, a tennis court, a 14-foot lagoon-style pool, a dance studio, barns, and separate staff facilities.

The listing is held by Suzanne Perkins and Kyle Forsyth of Compass.

For $31 million, the King of Pop's former home could be yours, although you'll have to pass "extensive prequalification," according to The Wall Street Journal. Here's what Sycamore Valley Ranch has to offer.

Welcome to Sycamore Valley Ranch, the former Neverland Ranch that once belonged to Michael Jackson. Jackson originally purchased the property for $19.5 million in 1987.

But the owners did decide to keep Jackson's famous Neverland train station during renovations.

Source: Variety

The 2,700-acre property is on the market for $31 million.

Source: Bloomberg

That's a discount of $69 million — or nearly 70% — from its original $100 million listing price in 2015.

Source: Bloomberg

The ranch spans 2,700 acres in California, about 130 miles northeast of Los Angeles.

Source: Sycamore Valley Ranch

Under Jackson's ownership, Neverland Ranch was a Peter-Pan inspired fantasyland with an amusement park, exotic animals ...

Source: CBS News

... and a Disney-themed train station. Jackson famously threw parties and held events at the ranch, including a 14th birthday party for Kim Kardashian, who called the ranch "the most magical place on earth."

Source: PopSugar

But in 1993, Jackson and his home made headlines when child sexual abuse allegations were brought against him. He would go on to defend himself against more lawsuits over the next decade, which contributed to his mounting debt. By 2008, he faced foreclosure on Neverland Ranch.

Source: Billboard

After he defaulted on a loan, Jackson entered Neverland into an ownership agreement with private investment firm Colony Capital for $23 million.

Source: ABC News

Colony Capital spent millions restoring the ranch after Jackson's death in 2009.

Source: ABC News

Neverland Ranch was rebranded as Sycamore Valley Ranch and put on the market for $100 million in 2015.

It was renamed Sycamore Valley Ranch for the rolling hills, majestic sycamore trees, magnificent oaks, and manicured grounds that Santa Ynez Valley is known for.

Source: Sycamore Valley Ranch

There are a few possible reasons why Sycamore Valley Ranch hasn't sold yet.

According to Zillow real estate expert Brendon DeSimone, the property sits about 130 miles northeast of Los Angeles and five miles from Los Olivos, which is outside of the proliferation of highest-end homes.

Source: Bloomberg

The property also wasn't at its most attractive during California's drought, one of the listing agents, Kyle Forsyth, told the Wall Street Journal.

Source: Business Insider

That's not to say there isn't a chance for Jackson's former home to sell. It's typical for properties listed for more than $3 million in Santa Ynez Valley to be on the market for two to three years, Village Properties real estate broker Wayne S. Natale told Bloomberg.

Source: Bloomberg

Sycamore Valley Ranch is secured by a gate, and a long, scenic road weaves through the property grounds leading you to various points of interest.

Source: Sycamore Valley Ranch

The property boasts a 12,598-square-foot French-Normandy style main residence with five bedrooms and eight bathrooms.

Source: Sycamore Valley Ranch

The mansion is crafted with exposed timber beams, brick and stonework, five fireplaces, and 18th-century French oak parquet flooring from two chateaus in France.

Source: Sycamore Valley Ranch

Entering through the front doors brings you inside to the spacious main foyer. The door to the right connects to the kitchen.

Source: Sycamore Valley Ranch

Large golden chandeliers hang over the lofted main entryway.

Source: Sycamore Valley Ranch

Down a few sets of stairs from the foyer is the main living room with two fireplaces.

Source: Sycamore Valley Ranch

Walking back through the main foyer under an arched doorway brings you to the newly renovated kitchen.

Source: Sycamore Valley Ranch

Though the main house is unoccupied, a full-time staff keeps the kitchen pristine.

Source: Sycamore Valley Ranch

Sycamore Valley Ranch has a guest house about 150 feet from the main house, where staff members can reside.

Source: Sycamore Valley Ranch

Walking through the kitchen to the main dining room, you'll find more wall-length windows that offer a view of the backyard.

Source: Sycamore Valley Ranch

A hallway lined with windows connects you from the dining room to other rooms on the first floor.

Source: Sycamore Valley Ranch

There are eight bathrooms in the main residence. This one features a copper bathtub.

Source: Sycamore Valley Ranch

Down the hallway is the first-floor master bedroom where the King of Pop slept. The master includes a private loft and two baths, two walk-in cedar-lined closets, and a private outdoor garden.

Source: Sycamore Valley Ranch

A massive walk-in closet connects you to the master bedroom and bathroom. Jackson stored valuables in a "secret room" hidden around the corner in his closet, according to the Associated Press.

Source: Associated Press

The master bathroom sports a sunken bathtub and is surrounded by large windows.

Source: Sycamore Valley Ranch

Exiting the master bedroom will bring you back to the hallway. Continue down the hallway back to the foyer and you'll find a staircase.

Source: Sycamore Valley Ranch

Moving up the stairs to the second floor, you'll find four bedrooms. Here is an upstairs bedroom with polished oak flooring.

Source: Sycamore Valley Ranch

Walking down a hallway will lead you to another bedroom with white carpeting and walls lined with shelves.

Source: Sycamore Valley Ranch

Coming back down the stairs to the first floor, you'll see doors across the main entryway that lead you to the back grounds of the ranch.

Source: Sycamore Valley Ranch

The property's grounds include two guest houses, a lake, a 50-seat movie theatre, a tennis court, a 14-foot lagoon-style pool, a pool house, barns, and separate staff facilities.

Source: Sycamore Valley Ranch

Next to the pool house is a sunken, lighted tennis court with a viewing area.

Source: Sycamore Valley Ranch

The grounds of the property are extensively manicured ...

Source: Sycamore Valley Ranch

... full of stone work and colorful flower beds.

The property features a four-acre lake with two fountains, swans, boat stops, and a private beach.

Source: Sycamore Valley Ranch

Whimsical statues can be seen around the grounds.

Source: Sycamore Valley Ranch

Other playful touches include this tree, which has a set of steps to climb up.

Source: Sycamore Valley Ranch

A gazebo complete with lighting and a grill offers a space for outdoor entertaining.

Source: Sycamore Valley Ranch

Although Sycamore Valley Ranch no longer has exotic animals like elephants, you can still find pigs, lambs, and a llama on the property.

Source: Sycamore Valley Ranch

The ranch's large red barn was built originally for Clydesdales.

Source: Sycamore Valley Ranch

nostos-music.blogspot

Saturday, August 31, 2019

Michael Jackson's Neverland Ranch is on the market for nearly 70% off its original price. Here's a look inside the 2,700-acre property

Welcome to Sycamore Valley Ranch, the former Neverland Ranch that once belonged to Michael Jackson. Jackson originally purchased the property for $19.5 million in 1987.

The 2,700-acre property is on the market for $31 million.

That's a discount of $69 million — or nearly 70% — from its original $100 million listing price in 2015.

The ranch spans 2,700 acres in California, about 130 miles northeast of Los Angeles.

Under Jackson's ownership, Neverland Ranch was a Peter-Pan inspired fantasyland with an amusement park, exotic animals ...

... and a Disney-themed train station. Jackson famously threw parties and held events at the ranch, including a 14th birthday party for Kim Kardashian, who called the ranch "the most magical place on earth."

But in 1993, Jackson and his home made headlines when child sexual abuse allegations were brought against him. He would go on to defend himself against more lawsuits over the next decade, which contributed to his mounting debt. By 2008, he faced foreclosure on Neverland Ranch.

After he defaulted on a loan, Jackson entered Neverland into an ownership agreement with private investment firm Colony Capital for $23 million.

Colony Capital spent millions restoring the ranch after Jackson's death in 2009.

Neverland Ranch was rebranded as Sycamore Valley Ranch and put on the market for $100 million in 2015.

It was renamed Sycamore Valley Ranch for the rolling hills, majestic sycamore trees, magnificent oaks, and manicured grounds that Santa Ynez Valley is known for.

There are a few possible reasons why Sycamore Valley Ranch hasn't sold yet.

According to Zillow real estate expert Brendon DeSimone, the property sits about 130 miles northeast of Los Angeles and five miles from Los Olivos, which is outside of the proliferation of highest-end homes.

The property also wasn't at its most attractive during California's drought, one of the listing agents, Kyle Forsyth, told the Wall Street Journal.

That's not to say there isn't a chance for Jackson's former home to sell. It's typical for properties listed for more than $3 million in Santa Ynez Valley to be on the market for two to three years, Village Properties real estate broker Wayne S. Natale told Bloomberg.

Sycamore Valley Ranch is secured by a gate, and a long, scenic road weaves through the property grounds leading you to various points of interest.

The property boasts a 12,598-square-foot French-Normandy style main residence with five bedrooms and eight bathrooms.

The mansion is crafted with exposed timber beams, brick and stonework, five fireplaces, and 18th-century French oak parquet flooring from two chateaus in France.

Entering through the front doors brings you inside to the spacious main foyer. The door to the right connects to the kitchen.

Large golden chandeliers hang over the lofted main entryway.

Down a few sets of stairs from the foyer is the main living room with two fireplaces.

Walking back through the main foyer under an arched doorway brings you to the newly renovated kitchen.

Though the main house is unoccupied, a full-time staff keeps the kitchen pristine.

Sycamore Valley Ranch has a guest house about 150 feet from the main house, where staff members can reside.

Walking through the kitchen to the main dining room, you'll find more wall-length windows that offer a view of the backyard.

A hallway lined with windows connects you from the dining room to other rooms on the first floor.

There are eight bathrooms in the main residence. This one features a copper bathtub.

Down the hallway is the first-floor master bedroom where the King of Pop slept. The master includes a private loft and two baths, two walk-in cedar-lined closets, and a private outdoor garden.

A massive walk-in closet connects you to the master bedroom and bathroom. Jackson stored valuables in a "secret room" hidden around the corner in his closet, according to the Associated Press.

The master bathroom sports a sunken bathtub and is surrounded by large windows.

Exiting the master bedroom will bring you back to the hallway. Continue down the hallway back to the foyer and you'll find a staircase.

Moving up the stairs to the second floor, you'll find four bedrooms. Here is an upstairs bedroom with polished oak flooring.

Walking down a hallway will lead you to another bedroom with white carpeting and walls lined with shelves.

Coming back down the stairs to the first floor, you'll see doors across the main entryway that lead you to the back grounds of the ranch.

The property's grounds include two guest houses, a lake, a 50-seat movie theatre, a tennis court, a 14-foot lagoon-style pool, a pool house, barns, and separate staff facilities.

Next to the pool house is a sunken, lighted tennis court with a viewing area.

The grounds of the property are extensively manicured ...

... full of stone work and colorful flower beds.

The property features a four-acre lake with two fountains, swans, boat stops, and a private beach.

Whimsical statues can be seen around the grounds.

Other playful touches include this tree, which has a set of steps to climb up.

A gazebo complete with lighting and a grill offers a space for outdoor entertaining.

Although Sycamore Valley Ranch no longer has exotic animals like elephants, you can still find pigs, lambs, and a llama on the property.

The ranch's large red barn was built originally for Clydesdales.

Neverland Ranch used to include an amusement park. But Colony Capital turned the area into a "zen garden" when it purchased the ranch in 2008.

But the owners did decide to keep Jackson's famous Neverland train station during renovations.

Train tracks weave all around the property ...

... along with whimsical train stops.

Children and adults both used to ride in the train when Jackson threw parties, like during this holiday celebration in 2004.

Jackson lived on the ranch for more than 15 years.

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