Peter Still/RedfernsMichael Jackson‘s Neverland Ranch is back on the market, and it’s now available for a relative steal at $67 million.
According to the Los Angeles Times, the current price tag for the late King of Pop’s former estate, which now is called “Sycamore Valley Ranch,” is 33-percent cheaper than the $100 million its owner was asking when the property previously was put on the market about two years ago.
Jackson paid $19.5 million for the ranch in 1987 and lived there more than 15 years. While he resided there, the estate famously featured an amusement park and zoo animals. He defaulted on a loan on the ranch, according to the newspaper, which was then purchased by real-estate investment firm Colony Capital in 2008 for $22.5 million. MJ died the following year at the age of 50.
The 2,700-acre property, located in Los Olivos, California, includes a 13,000-square-foot Normandy-style mansion that features a master wing with its own garden, a 50-seat movie theater and dance studio, two guesthouses, a swimming pool, a sports court and a barn that at one time housed Clydesdale horses.
Listing agent Joyce Rey of Coldwell Banker says in a statement, “This quintessential California estate is now ready for the next chapter in its journey.”
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