Princely Asking Price for King of Pop’s Former Kingdom

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Michael Jackson’s former ranch home, Neverland, is up for sale at $100 million by billionaire Tom Barrack’s investment firm Colony Capital, which has a stake in the property.

But the 2,700-acre spread in Los Olivos, 40 miles outside of Santa Barbara, looks different these days, with none of the amusement park rides that which were such a hallmark of the late pop icon’s ownership.

The property has now reverted back to its original title of Sycamore Valley Ranch. After buying it from golf course entrepreneur William Bone in 1987 for $19.5 million, Jackson named it Neverland after the fantasy island in “Peter Pan,” the story of the boy who never grew up.

Jackson later defaulted on a $24.5 million loan, and Colony bought the note in 2008 for $23 million, putting the title into a joint venture with Jackson. Since the pop star’s death in 2009, Colony, which declined to comment for this article, has spent unspecified millions on upgrades to the ranch ahead of the sale.

While the theme park rides are gone, the six bedroom main house remains, as do some of Jackson’s favorite features, including a train station, a floral clock and a private movie theater with trap doors in the stage for magic shows.

The listing is shared with Sotheby’s International Realty and Hilton & Hyland.

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