December 25 According to NBC, the “Dream Manor” once owned by the late superstar Michael Jackson was finally sold for $22 million.
December 24, a spokesman for American billionaire and investor Ron Burkell said that Burkel had recently bought the 2,700-acre mansion.
The property was reportedly renamed “Sycamore Valley Ranch” a few years ago, citing The Wall Street Journal. According to public records, the property was sold for $22 million.
A spokesman for Burkel said that Burkel believes that the investment is an opportunity for strategic land investment.
Previously, Burkell locked the house while visiting another location. Later, he contacted Tom Barrack, the founder of the real estate investment firm Corona Capital Group, to make a deal.
According to previous media reports, Jackson bought the mansion in 1988 and named after the dream manor gate “Neverland” in Peter Pan.
In 2008, Jackson transferred it to his creditor Coronai Capital Company because of the $23 million debt of Dream Manor.
In 2015, Dream Manor was priced for $100 million when it was first sold; in 2017, it was relisted for a starting price of $67 million; in 2019, the house sold for only $31 million.