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Michael Jackson’s Neverland property was sold for $ 22 million, well below the $ 100 million asking price, to billionaire investor Ron Burkle in a deal described by the Los Angeles realtor as “a bargain,” writes The Guardian.
The Los Olivos, California, property was the pop star’s home from 1987, when he was at the peak of his career, until his death in 2009. Michael Jackson died of a drug overdose at another home in the Holmby Hills neighborhood of Los Angeles, writes news.ro.
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Of Jackson’s two properties, Neverland covers 1,091 acres, the better known. In the 1990s, Santa Barbara prosecutors searched the farm and described it as a fairy tale world built by Michael Jackson “to attract and annoy children.” The star was acquitted of this charge.
The farm had a theme park, a train and a zoo where orangutans and an elephant named Gypsy were kept, received from Elizabeth Taylor in 1991. Neverland has been for sale on the market since 2015, with the first sale price of 100 million . AMERICAN DOLLAR.
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According to The Wall Street Journal, Jackson’s estate was eventually sold to Burkle, the singer’s short-lived partner and co-founder of the Yucaipa Companies investment fund, after the price fell to $ 31 million last year.
At the time of the sale, the estate was owned by those who managed the Jackson property with Colony Capital, a real estate investment fund.
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Jackson initially paid $ 19.5 million for the property, but since he borrowed a lot of money, Colony Capital became a co-owner.
NeverLand has a villa of more than 1,100 square meters, surrounded by gardens and a huge lake, a beautiful view to the south and north. There is barbecue, swimming pools, tennis court. There are also three guest houses, a cinema with a stage, animal shelters.
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After Michael Jackson’s death, Neverland became Sycamore Valley Ranch and the amusement park was closed.
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