Michael Jackson's Neverland property on sale for $100M
LOS ANGELES (AP) — Michael Jackson's Neverland Ranch is up for sale.
The Santa Ynez Valley property that once served as the late pop star's home and personal fantasyland is being listed at $100 million, according to the Wall Street Journal.
The 2,700-acre ranch featuring a train station, six-bedroom house and 50-seat movie theater has been in limbo since Jackson's death in 2009.
Jackson paid $19.5 million for the property in 1988 and rechristened it Neverland after Peter Pan's island dwelling.
The real estate company Colony Capital LLC bailed out Jackson in 2008 after he defaulted on the $24.5 million that he owed on the property.
Jackson distanced himself from Neverland after his 2005 acquittal on charges that he molested children at the ranch and opted to live elsewhere.