- Michael Jackson’s famed Neverland Ranch has been on the market since 2015 despite millions of dollars in renovations, a large price cut, and a new name.
- Jackson’s former 2,700 acre property boasts a 12,598 main residence, two guest houses, a lake, a 50-seat movie theatre, a tennis court, a 14-ft lagoon-style pool, a dance studio, and barns.
- At $67 million, here’s what the new Sycamore Valley Ranch has to offer and why it’s been on the market for three years.
Michael Jackson’s famed Neverland Ranch hit the market in 2015 hoping to ring in buyers under a new identity as Sycamore Valley Ranch.
However, the 12,598 square foot French-Normandy style residence located in Los Olivos, California has been on the market for three years, despite a 33% price cut from its original $100 million listing price by Sotheby’s International Realty and Hilton & Hyland.
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-ft lagoon-style pool, a dance studio, barns, and separate staff facilities.
“This quintessential California estate is now ready for the next chapter in its journey,” Sycamore Valley Ranch’s listing agent Joyce Rey of Coldwell Banker said in a statement, the Los Angeles Timesreported.
For $67 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:
April Walloga and Alyson Penn contributed to an earlier version of this story.
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 $67 million, down 33% from its original $100 million listing price in 2015.
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.
Source: ABC News
After Jackson’s death in 2009, Colony Capital spent millions painstakingly restoring the ranch. Neverland Ranch was rebranded as Sycamore Valley Ranch and put it on the market for $100 million in 2015.
It was renamed Sycamore Valley Ranch for the rolling hills, majestic sycamore trees, magnificent oaks, and exquisite 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.
Most of the homes near the $100 million dollar price range are waterfront properties or in large cities like Los Angeles. There’s also never been a $100 million dollar sale in Santa Ynez Valley.
The most expensive home that sold anywhere in 2015 was Kenny Rogers’s estate in Bel Air, located 20 miles outside of Los Angeles. It went for $46.3 million, which is $53.7 million less than Sycamore Valley Ranch’s original asking price.
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.
Though not a waterfront or urban property, this quintessential California estate has a lot to offer its next owner. Let’s take a look inside.
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 feet main residence, two guest houses, a lake, a 50-seat movie theatre, a tennis court, a 14-ft lagoon-style pool, a dance studio, barns, and separate staff facilities.
Here is a full view of the French-Normandy style main residence. It has five bedrooms and eight bathrooms.
The architecture of the main residence is reminiscent of a European country house.
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, gold-colored chandeliers hang over the lofted main entryway.
Down a few sets of stairs from the foyer is the main living room. It has two fire places, a hanging chandelier, and floor-length, large windows.
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 works hard to keep the kitchen pristine. Sycamore Valley Ranch has a guest house about 150 feet from the main house where staff members can reside.
The oversized kitchen has large windows to welcome natural sunlight that reflects off of the polished wooden countertops.
Large windows are a common theme in the main residence. 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.
Here is one of the bathrooms connected to the hallway. There are a total of eight in the main residence. This one features a copper bathtub.
Down the hallway, you’ll find 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.
Source: Associated Press
The secret room.
Continuing through the closet leads you to Jackson’s master bathroom. It sports a sunken bathtub and is surrounded by large windows for stellar bath views.
This gold-colored faucet on the jacuzzi tub was once used by Jackson himself.
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. This one has white carpeting and the walls are lined with shelves.
The back wall has a beautiful photo of nature that resembles the landscape of the ranch grounds.
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.
Here’s a look through the back doors to the backyard.
And once you step outside you have a nice view of the back of the mansion from the property grounds.
Climbing vines cover the exterior of the main residence…
… and give the structure an English countryside feel.
As you can imagine, the grounds are extensively manicured.
The property features a four-acre lake with two fountains, swans, boat stops, and a private beach.
A close-up of one of the fountains.
Small creeks run through plush grass into the lake.
You can even relax in this gazebo by the water.
There are many bronze statues of children throughout the grounds.
This bronze statue overlooks the lake on the road to the main house.
Some bronze statue children also “fish” in a nearby creek.
Stretched out under a tree by the lake is a long banquet table that’s perfect for dinner parties.
In fact, in Neverland Ranch’s heyday, Jackson used to throw all kinds of parties and events, especially for kids.
Close to the lakes lies a 14-foot deep lagoon-style pool and a pool house/tennis pavilion.
The pool has two diving boards…
…and a jacuzzi.
This ice cream cart beside the pool was given to Jackson by his close friend Elizabeth Taylor.
The 3,655 square foot tennis pavilion/pool house has a loft, fireplace, laundry, dual bathrooms, and an underground wine cellar with a wet bar.
The pool house has several floors. When Jackson lived there, it was full of arcade games, according to the Associated Press.
Source: Associated Pre