What's next for Michael Jackson's former Neverland Ranch? orlandosentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orlandosentinel.com Daily Mail and Mail on Sunday newspapers.
The fanciful former home of Michael Jackson, Neverland Ranch, stuck on the market for years, has finally sold, though the property sold for far less than the original asking price. There are several reasons why the Santa Barbra estate sold for millions less than was originally presented, including, of course, the previous owner’s reputation and the changes made to the grounds.
What s Next for Michael Jackson s Former Neverland Ranch?
What s Next for Michael Jackson s Former Neverland Ranch?
The Southern California ranch known as Neverland that was owned by the late star Michael Jackson has finally been sold. What will happen to the property?
Claudine Zap, provided by
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Michael Jackson has finally been sold.
The investor and billionaire
Ron Burkle snagged the ranch for $22 million, according to the Wall Street Journal. He paid less than a quarter of the property s original asking price of $100 million.
The discounted price dovetails with a hot market for large-acreage land grabs.
“Demand for property, especially more self-contained properties, is greater than ever,” says
Los multimillonarios que lideraron las mayores ofertas inmobiliarias en Estados Unidos larepublica.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from larepublica.co Daily Mail and Mail on Sunday newspapers.
The property formerly known as Neverland Ranch, home to the late Michael Jackson, has been purchased by Pittsburgh Penguins co-owner Ron Burkle, Burkleâs spokesman confirmed to CNN Saturday.
Spokesman Frank Quintero did not confirm the purchase price, but The Wall Street Journal reported it was $22 million.
Burkle is also the co-founder of Yucaipa Companies, an investment firm.
Neverland Ranch â named after the fictional âNeverlandâ in the tale of Peter Pan, the boy who could never grow up â was purchased by Jackson in 1987 for $19.5 million.
The 2,700-acre estate once contained 22 structures, including an amusement house and a zoo which housed elephants, a giraffe, orangutans, and Jacksonâs chimp Bubbles.