Michael Jackson’s famous Neverland Ranch is back on the market for just a fraction of its original asking price.
Amid alegal battle with HBO’sLeaving Neverland, Jackson’s estate relisted the property, where the late pop star lived for 15 years, at a new asking price of $31 million, nearly $70 million less than its original listing from 2015.
After Jackson died in 2009, his estate and the fund manager put up the Los Olivos, California estatefor $100 million six years later.
With no interested buyers at the time, the ranch was eventually taken off the market until its recent return.
Frazer Harrison/Getty
Neverland.
Real estate agents, Suzanne Perkins & Kyle Forsyth of Compass, explained toWSJthat the property hasn’t found a buyer yet because of the environmental conditions that are likely to impact the ranch, such as droughts, mudslides, and wildfires.
They also cited its high initial asking price as a reason for no immediate takers.
In the meantime, Sycamore Valley Ranch has undergone some renovations and updates on its security and landscaping,WSJsaid.
Though the amusement park is no longer there, it still contains the same structural features that were present when Jackson lived there, including its own fire department building and 1950s fire truck, a swimming pool, basketball and tennis courts, game rooms, a private zoo, and multiple guesthouses.
Neverland.Steve Starr/CORBIS/Corbis via Getty Images
News of the property going back on the market comes after Jackson’s estatefiled a lawsuit against HBOover the planned broadcast of the bombshelldocumentaryLeaving Neverland.
In the suit, the estate claimed the film violates a clause in a 1992 contract, written up ahead of a televised concert that year — in which HBO agreed to not speak ill of Jackson.
source: people.com
