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Michael Jackson’s Neverland ranch hits market for $100M

King of Pop paid $19.5M for 2,700-acre California spread in 1987
May 29, 2015 11:15AM

From left: the former Neverland Ranch and Michael Jackson

From left: the former Neverland Ranch and Michael Jackson

From the New York website: For $100 million, you can live like a king.

The King of Pop, that is.

Michael Jackson’s former Neverland Ranch — which has been renamed “Sycamore Valley Ranch” — has hit the market for $100 million, according to the Wall Street Journal.

Sotheby’s International Realty’s Suzanne Perkins and Harry Kolb have the listing, together with Hilton & Hyland’s Jeffrey Hyland.

The California estate is located about 40 miles from Santa Barbara. Jackson lived on the ranch for 15 years after paying $19.5 million for it in 1987. After the king of pop defaulted on a $24.5 million loan on the property, real estate investment firm Colony Capital bought the note for $23 million in 2008, the newspaper reported.

The 2,700-acre property no longer features amusement park rides. The floral arrangement in the form of a clock that spells out “Neverland” is still there, according to the Journal. The main, six-bedroom house spans about 12,000 square feet. The ranch also includes — among other things — a 50-seat movie theater, a four-bedroom guesthouse and a swimming pool. [WSJ]  — Claire Moses