The famous ranch Neverland for Michael Jackson in California was finally sold, more than 10 years after the death of the star of the pop , who left the property after the trial on charges of molesting a child there.
Investor Ron Burkle recently bought the sprawling 2,700-acre (1,100 hectares) property, his spokesman said Thursday. The property would have sold for $ 22 million , well below its asking price a few years ago, which was $ 100 million in 2015 and $ 67 million two years later.
Jackson, who died of an overdose of the anesthetic Propofol in 2009 at age 50, bought the property in Los Olivos, about 193 km north of Los Angeles, in 1988 for $ 19.5 million.
After financial troubles, in 2008 he turned over the title to Colony Capital LLC, which had a mortgage on the property.
Neverland became Jackson’s favorite haven and featured a zoo , railroad, and theme park attractions.
In addition to the 1,161-square-meter (12,500-square-foot) main residence and a nearly 344-square-meter (3,700-square-foot) pool house, Neverland has a separate building with a 50-person movie theater and dance studio.
Other standouts on the property are a “Disney-style” train station, fire station, and barn.
Burkle’s spokesman said the billionaire had an interest in Lake Zaca, adjacent to the farm, to install a new Soho House, an exclusive club like those in Los Angeles, Miami, New York and Toronto. However, in the long run he decided that the place was too distant and expensive for a club.