Michael Jackson’s Neverland Ranch – and 6 other luxury homes no one wants to buy
Late pop star’s 2,698-acre California property is now renamed Sycamore Valley Ranch, former home of retired NBA star Michael Jordan and ‘Billionaire’ Bel Air mansion all remain unsold
Some multimillion-dollar homes sell in only a few days, but there are others that sit on the market for years.
Many of these unwanted properties that have been offered at big price reductions to try to tempt buyers over the years once belonged to celebrities.
Many of these unwanted properties that have been offered at big price reductions to try to tempt buyers over the years once belonged to celebrities
Others are abandoned historic mansions, which are now listed for a mere fraction of their original value, although some such as Lynnewood Hall in Pennsylvania, the largest home for sale in America, are still worth millions – even when in disrepair.
Homes on the “unwanted” list range from the late American pop star Michael Jackson's vacated Neverland Ranch to a decaying mansion on New York’s Carleton Island, which will cost the new owner millions to renovate.
Retired American basketball star Michael Jordan, who won six NBA championships with the Chicago Bulls, has not lived in his Chicago mansion for years, but the empty property has struggled to find a new owner after six years, even though his staff continue to maintain the grounds for potential buyers.
Homes that have been highly customised, such as those owned by Jordan and Jackson, are often hard to sell. Both of their estates include features such as personalised entry gates, which make them undesirable to some potential wealthy buyers, who have their own ideas about a luxury home.
Other unsold homes on the list include a Versailles-inspired Manhattan town house, which has been on and off the market for 16 years, along with a massive Bel Air house nicknamed “Billionaire” – one of many mega-mansions for sale in Los Angeles – which is being offered at a US$100 million discount.
Check out the 7 luxury homes that have struggled to sell.
Michael Jackson’s Neverland Ranch
Jackson died aged 50 in June 2009 and his former home, Neverland Ranch, in Los Olivos, Santa Barbara County, California, which he bought in 1987, first appeared for sale in 2015.