Neverland Ranch
In 1981, William Bone constructed the Zaca Laderas Ranch or the Neverland Ranch. It is now known as the Sycamore Valley Ranch as well. It spans 2,700 acres of land and has been on the market several times over the years. Most people know it best as the residence of Michael Jackson. The property went into disrepair after he passed away. In 2015, it was partially restored, but the animals and amusement rides have been removed from there by then. It used to be worth $100 million, but it is now on the market for $31 million. It approached foreclosure in 2007 as well. However, the King of Pop’s lawyers said that they were refinancing the loan so that the heirs could still keep 87.5 percent of it.
Neverland Ranch
Stone-Walled Estate – Alpine, New Jersey
Are you familiar with the fairytale-like story of the Stone-Walled Estate? If so, you might be surprised to hear how much it has depreciated. It has been on the market for quite some time now. The ownership has not changed since its construction. The property was built for a steel magnate called Henry Clay Frick II. He is best known as the founder of US Steel! There is a wine cellar, a home theater, and an eleven-car garage on the property. It spans 30,000 sq. ft. It is a timelessly elegant house, but the price continues to go down. Richard Kurtz, the developer, said that property taxes are the culprit here. Even though its value has decreased from $60 million to $32.9 million, no one has snapped it up just yet.
Stone Walled Estate – Alpine, New Jersey
