Celebs
Michael Jackson’s $100 Million Ranch On Sale
Sycamore Valley Ranch, an incredible mansion previously owned by Michael Jackson, hasn’t been purchased by anyone ever since it became available last May. The newest idea of the advertisers was to publish a video tour of the house – more than five minutes of footage filmed by a drone. The realtor used to want to leave the house devoid of “Michael’s memory”. Nevertheless, Jackson’s Man in the Mirror plays in the video’s background, so it seems someone is undecided. The estate’s name was also changed last year to reflect on the original one. Suzanne Perkins, responsible for the sale, claims there has been some interest in the property, but not one deal has yet come to fruition. The listing which is currently in consideration doesn’t mention Michael Jackson at all. There are no additions bought by him left on the ranch – Bubbles, his monkey, and all elephants are long gone. ‘Designed by Robert Altevers for William Bone in a French Normandy-style and meticulously crafted to perfection in 1982’, the estate is advertised as ‘the ultimate ranch retreat’. While in the possession of Jackson, it was called Neverland, as inspired by Peter Pan.
Via: cnn.com
According to Perkins, some parts of the property have been left untouched for their ‘historic’ value and so as not to ‘degrade what Michael had done’. The topiary and the clock-tower still have the letters saying “Neverland” visible on them. However, the name has a bad ring to it due to the accusations claiming Jackson was to sexually molest minors at the ranch. One of the victims is supposed to have been Macaulay Culkin, the child actor famous for his role in Home Alone. However, the ranch also witnessed many beautiful moments like Elizabeth Taylor and Larry Fortensky’s 1991 wedding or Oprah Winfrey live interview with Jackson of 1991. There was never an actual sentence for Jackson before his death in 2009, but the singer decided to live someplace else back in 2005. The estate was in his hands from 1987 to 2008, when it was sold to Colony Capital LLC due to the singer’s financial problems. While in Michael Jackson’s hands, the ranch was more of a fun park. Now, while it’s searching for a new proprietor, the estate has been turned into more of a luxurious mansion. It includes an artificial lake with swans and picturesque hills that boast the presence of llamas.
Via: spin.com
It seems that if the buyer’s motivation for completing the deal would be love for the singer, the new proprietor would still be satisfied – the ranch contains a few reminders of the great artist’s presence. Unfortunately for the fans, there are not going to be any tours in the estate, so the only way to see how MJ lived is to actually buy the whole thing – an expensive endeavor, costing as much as $100,000,000. The house, built in Normandy style, boasts a spacious 12,000 square feet. It has six bedrooms and even quarters for the staff. Apart from that, there are 21 additional structures on the ranch – like two more houses designed for guests, one equipped with two bedroom, the other – with four. There is a BBQ area, a basketball court, a tennis court, and a swimming pool. The property even has a cinema with a ‘private viewing balcony’ as well as a stage that ‘includes trap doors for magic shows’. Unfortunately, fans of fun parks won’t be satisfied as this feature has been disposed of.
Via: pinterest.com
Beyonce and Jay Z are some of the celebrities that were suspected of planning to buy the property. However, years have passed already and the house still hasn’t found an owner. Back in 1987, it was bought for $19,500,000 – according to some sources, it cost MJ a whopping $3,000,000 A YEAR to maintain the property. Now, some estimate the value to be a meager $35,000,000, but it’s not a probable reckoning. As mentioned, Colony Capital LLC invested a big sum of money in MJ’s debt back in 2008, not wishing for the property to go to waste. Their shares went increasing as they put more and more resources into the ranch as Jackson’s contribution lessened. According to Forbes, Colony Capital might have invested as much as $50,000,000 in the ranch, but in 2014 they decided to sell it.
Read the statement of the officials of Michael’s ranch:
‘We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael’s lifetime, Colony has the right to sell. The estate will maintain Michael’s family home in Encino, including its iconic recording studio there. [We will] continue to build upon Michael’s legacy as an artistic genius and humanitarian through his music and new projects such as the Michael Jackson ONE show in Las Vegas. We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property. Michael’s memory lives on in the hearts of his fans worldwide.’
Via: pinterest.com