Michael Jackson’s Neverland ranch drops in price and has returned to the housing market with a major reduction as more allegations of sexual abuse have surfaced. The news comes just days before HBO airs Leaving Neverland, a two-part four-hour documentary that features the testimonies of Wade Robson and James Safechuck, two men who allege that the singer sexually abused them as children.
The deceased singer’s 2,700-acre California property, now rebranded as the Sycamore Valley Ranch is jointly owned by Jackson’s estate and a fund managed by the real estate investment trust Colony Capital. It has now been listed for $31m, a steep drop from the original asking price of $100m when it was first came to the market in 2015. Included in the estate is a tennis court, a swimming pool and a movie theatre and the house itself is 12,000 square foot in size.
Real estate agent Kyle Forsyth told CBS News that the decision to come back to the market with a reduced price was because “the timing is right for new stewardship”. The price drop is allegedly the result of years of drought and natural disasters but the property is well-maintained. Jackson originally brought it for $19.5m in 1987.
