- Michael Jackson’s famed Neverland Ranch has been pulled off the market after almost five years of price cuts, renovations, and a new name, Compass confirmed to Business Insider.
- The rebranded Sycamore Valley Ranch was last asking $31 million – less than a third of its original asking price.
- Jackson’s former ranch boasts a 12,598-square-foot main residence, two guest houses, a lake, a 50-seat movie theater, and a Disney-themed train station.
- The seller declined Business Insider’s request for comment on whether they were planning on relisting the ranch.
- Visit Business Insider’s homepage for more stories.
Michael Jackson’s famed Neverland Ranch has been pulled off the market after almost five years and multiple price cuts, Compass confirmed to Business Insider.
Originally listed for $100 million in 2015 under a new identity as Sycamore Valley Ranch, the ranch was discounted to $67 million two years later, and then relisted again for $31 million in 2019.
The 2,700-acre property in Los Olivos, California, where Jackson lived for more than 15 years, includes a French-Normandy style main residence, two guest houses, a lake, a 50-seat movie theater, a 14-foot lagoon-style pool, a dance studio, barns, staff facilities, and a Disney-themed train station.
Kyle Forsyth of Compass, one of the former listing agents for the ranch, told Business Insider that the agents representing the ranch found interested potential buyers, but no deal could be reached with the seller, Colony Capital.
Colony Capital, the private investment firm that manages the ranch, "has not re-listed and recent inquiries for showings have been declined or gone unanswered," Forsyth said. Colony Capital declined Business Insider's request for comment for this story.
Jackson, who bought the property for $19.5 million in 1987, defaulted on a loan after financial hardships and entered Neverland into an ownership agreement with Colony Capital in 2008 for $23 million, according to ABC News.
Here's what Sycamore Valley Ranch has to offer.
April Walloga and Alyson Penn contributed to an earlier version of this story.
Welcome to Sycamore Valley Ranch, the former Neverland Ranch that once belonged to Michael Jackson.
Jackson originally purchased the property for $19.5 million in 1987.
The 2,700-acre property was put up for sale for $100 million in 2015, but it has since been taken off the market after almost five years of price cuts and renovations, Compass confirmed to Business Insider.
The ranch was last on the market in 2019 for $31 million - a nearly 70% discount from its original asking price.
Kyle Forsyth of Compass, one of the former listing agents for the ranch, told Business Insider that the agents representing the ranch found interested potential buyers, but no deal could be reached with the seller, Colony Capital.
Colony Capital, the private investment firm that manages the ranch, "has not re-listed and recent inquiries for showings have been declined or gone unanswered," Forsyth said.
Colony Capital declined Business Insider's request for comment for this story.
The ranch spans 2,700 acres in Los Olivos, California, about 130 miles northeast of Los Angeles.
Source: Sycamore Valley Ranch
Under Jackson's ownership, Neverland Ranch was a Peter-Pan inspired fantasyland with an amusement park, exotic animals ...
Source: CBS News
... and a Disney-themed train station.
Jackson famously threw parties and held events at the ranch, including a 14th birthday party for Kim Kardashian, who called the ranch "the most magical place on earth."
But in 1993, Jackson and his home made headlines when child sexual abuse allegations were brought against him.
He would go on to defend himself against more lawsuits over the next decade, which contributed to his mounting debt. By 2008, he faced foreclosure on Neverland Ranch.
After he defaulted on a loan, Jackson entered Neverland into an ownership agreement with private investment firm Colony Capital for $23 million in 2008.
Source: ABC News
Colony Capital spent millions restoring the ranch after Jackson's death in 2009.
Source: ABC News
Neverland Ranch was rebranded Sycamore Valley Ranch and put on the market for $100 million in 2015.
Source: ABC News
It was renamed Sycamore Valley Ranch for the rolling hills, majestic sycamore trees, magnificent oaks, and manicured grounds that the Santa Ynez Valley is known for.
Source: Sycamore Valley Ranch
There are several possible reasons why Sycamore Valley Ranch had trouble selling.
Most obvious, of course, is the property's well-publicized connection with Jackson.
"It was priced where it was in the beginning to capture a celebrity trophy buyer, someone that was willing to pay the extra money because it was Michael Jackson's," real estate expert Michael Corbett, the host of Extra's "Mansions and Millionaires," told Yahoo Entertainment. "Unfortunately now, since there's been a lot of negative press, someone is probably not going to purchase it for that reason ... Now someone's going to buy it because it's an amazing piece of real estate."
The property's location could also be unappealing to some buyers. According to Zillow real estate expert Brendon DeSimone, the property sits about 130 miles northeast of Los Angeles and five miles from Los Olivos, which is outside of the proliferation of the area's highest-end homes.
Village Properties real-estate broker Wayne S. Natale told Bloomberg that it's typical for properties listed for more than $3 million in Santa Ynez Valley to be on the market for two to three years.
But Jackson's former ranch was priced well above $3 million and sat on the market for nearly five years.
The Sycamore Valley Ranch is secured by a gate, and a long, scenic road weaves through the property grounds.
Source: Sycamore Valley Ranch
The property boasts a 12,598-square-foot French-Normandy style residence with five bedrooms and eight bathrooms.
Source: Sycamore Valley Ranch
The mansion is crafted with exposed timber beams, brick and stonework, five fireplaces, and 18th-century French oak parquet flooring from two chateaus in France.
Source: Sycamore Valley Ranch
Entering through the front doors brings you inside to the spacious main foyer. The door to the right connects to the kitchen.
Source: Sycamore Valley Ranch
Large golden chandeliers hang over the lofted main entryway.
Source: Sycamore Valley Ranch
Down a few sets of stairs from the foyer is the main living room with two fireplaces.
Source: Sycamore Valley Ranch
Walking back through the main foyer under an arched doorway brings you to the newly renovated kitchen.
Source: Sycamore Valley Ranch
Though the main house is unoccupied, a full-time staff keeps the kitchen pristine.
Source: Sycamore Valley Ranch
Sycamore Valley Ranch has a guest house about 150 feet from the main house.
Source: Sycamore Valley Ranch
Walking through the kitchen to the main dining room, you'll find more wall-length windows that offer a view of the backyard.
Source: Sycamore Valley Ranch
A hallway lined with windows connects you from the dining room to other rooms on the first floor.
Source: Sycamore Valley Ranch
There are eight bathrooms in the main residence. This one features a copper bathtub.
Source: Sycamore Valley Ranch
Down the hallway is the first-floor master bedroom where the King of Pop slept. The master includes a private loft and two baths, two walk-in cedar-lined closets, and a private outdoor garden.
Source: Sycamore Valley Ranch
A massive walk-in closet connects you to the master bedroom and bathroom. Jackson stored valuables in a "secret room" hidden around the corner in his closet, according to the Associated Press.
Source: Associated Press
The master bathroom sports a sunken bathtub and is surrounded by large windows.
Source: Sycamore Valley Ranch
Exiting the master bedroom will bring you back to the hallway. Continue down the hallway back to the foyer and you'll find a staircase.
Source: Sycamore Valley Ranch
Moving up the stairs to the second floor, you'll find four bedrooms. Here is an upstairs bedroom with polished oak flooring.
Source: Sycamore Valley Ranch
Walking down a hallway will lead you to another bedroom with white carpeting and walls lined with shelves.
Source: Sycamore Valley Ranch
Coming back down the stairs to the first floor, you'll see doors across the main entryway that lead you to the back grounds of the ranch.
Source: Sycamore Valley Ranch
The property's grounds include two guest houses, a lake, a 50-seat movie theater, a tennis court, a lagoon-style pool, a pool house, barns, and separate staff facilities.
Source: Sycamore Valley Ranch
Next to the pool house is a sunken, lighted tennis court with a viewing area.
Source: Sycamore Valley Ranch
The grounds of the property are extensively manicured ...
Source: Sycamore Valley Ranch
... full of stone work and colorful flower beds.
Source: Sycamore Valley Ranch
The property features a four-acre lake with two fountains, swans, boat stops, and a private beach.
Source: Sycamore Valley Ranch
Whimsical statues can be seen around the grounds.
Source: Sycamore Valley Ranch
Other playful touches include this tree, which has a set of steps to climb up.
Source: Sycamore Valley Ranch
A gazebo complete with lighting and a grill offers a space for outdoor entertaining.
Source: Sycamore Valley Ranch
Although Sycamore Valley Ranch no longer has exotic animals like elephants, you can still find pigs, lambs, and a llama on the property.
Source: Sycamore Valley Ranch
The ranch's large red barn was built originally for Clydesdales.
Source: Sycamore Valley Ranch
Neverland Ranch used to include an amusement park. But Colony Capital turned the area into a "zen garden" when it purchased the ranch in 2008.
Source: Sycamore Valley Ranch
But the owners did decide to keep Jackson's famous Neverland train station during renovations.
Source: Sycamore Valley Ranch
Train tracks weave all around the property ...
Source: Sycamore Valley Ranch
... along with train stops.
Source: Sycamore Valley Ranch
Children and adults both used to ride in the train when Jackson threw parties, like during this holiday celebration in 2004.
Source: PopSugar
Jackson lived on the ranch for more than 15 years.
Source: Wall Street Journal
