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Other features on the ranch are a Disney-style train station, a fire house and barn.
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Published Friday, December 25, 2020 10:45PM EST
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Burkle views the 2,700-acre property in Los Olivos, near Santa Barbara, as a land banking opportunity, his spokesman said Thursday in an email.
Burkles spokesman said the billionaire had been eyeing Zaca Lake – which adjoins the property – for a new Soho House, a members-only club with locations in Los Angeles, Miami, New York and Toronto. Burkle ultimately decided the location was too remote and expensive for a club.
In this July 2, 2009, file photo, workers standby at the train station at Neverland Ranch in Los Olivos, Calif. (AP Photo/Carolyn Kaster, File)
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The asking price of the property was $100 million in 2016 then dropped to $67 million a year later.
Greater Toronto Area home sales in November up 24.3 per cent from year ago