‘Today’ Offers Rare Look Into Michael Jackson’s Neverland Ranch, On Sale for $100 Million
Michael Jackson addresses a press conference at the O2 arena in London, on March 5, 2009.
The Today show recently broadcast an insider look at the details and sale of Michael Jackson’s Neverland Ranch located in Santa Ynez Valley, California. Their correspondent Joe Fryer was given a debriefing on the buying process of the ranch.
Once the home of the late the King of Pop, the 2,700-acre plot has been renamed the Sycamore Valley Ranch and is on sale for $100 million.
Jackson bought the ranch for $19.5 million in 1987 and built it to be an amusement park with rides and circus animals. In 2009, right before his death, real estate investment firm Colony Capital bought the property for $22.5 million.
Joe Fryer reports that the vetting process to even look at the property is strict. While the amusement attractions and animals are mostly gone, the railroad tracks and train remain part of the property, as well as a 50-seat movie theater. Kyle Forsyth, of Colony Capital, says that any future changes to the ranch are up to the discretion of potential buyers. “What they want to do with it is up to them.”