Thursday, July 5, 2007

UPDATE: Michael "The White Lady" Jackson

We have another update on the whereabouts of Michael "The White Lady" Jackson.

Even though the MJ spokesperson, Raymone Bain, recently stated that the Jackson family is looking for a vacation property on the East Coast, an article in today's Las Vegas Herald, the Jackson clan has moved into a Las Vegas property that belongs to Prince Jefri Bolkiah of Brunei.

The article says the house is worth $60,000,000, which seems like an awful lot of money for a house in Las Vegas regardless of how much gilding there is on the terlits. The sprawling complex, pictured above, covers 16 acres and includes a reported 100,000 square feet under roof, a main house that looks appropriately like a casino, a private parking lot, tennis court, at least three swimming pools, and what appear to be 5 large guest houses as well as staff quarters.

The White Lady's new neighbors are said to inlclude Andre Agassi, freaky magician David Copperfield, and the even more freaky Siegfied Fischbacher, who lives in an outlandish mansion with a resident pride of lions.

Only in Las Vegas.


Anonymous said...

That'd be this place then -

As far as spending is concerned; there will never be another Prince Jefri :)

Anonymous said...

I can only assume the article above refers to 99 Spanish Gate Dr., Las Vegas, NV.

Anonymous said...

Assuming that the house - regardless of how much it cost to build - is only worth what someone else is willing to pay for it, I seriously doubt that it would fetch anywhere near 60 million...especially now that the housing market here has tanked.

It's not even the same case as the handful of $100 million dollar homes for sale all over the world, that there are a limited number of people who can afford and are willing to pay an outrageous amount for a unique property. Even if there are gold-plated whatevers all over this house, it is still just a house in a Las Vegas country club.

For that amount of money in this town, it would need to have its own private golf course and an enormous amount of acreage - and it might still be a tough sell because that amount of acreage could not be conveniently located near the Strip.

Anonymous said...

Apparently Prince Jefri is doing the Muslim world a public service by keeping him over here again, seriously.

Anonymous said...

You always have to take with a grain of salt, but it only has the property listed at $14M+. That seems alot more logical in a place like Las Vegas than $60M.

Anonymous said...

I know for a fact that this home was 50 Mil to build back in 60 Mil value 10 years later is probably understated by 70-75%...While there is probably a handfull of buyers for this property, that isnt for sale, it is more likely to be worth 100 Mil...look at the surrounding neighbors and the values...100 Mil isnt out of line for the land and, when this home was being build, Jeffery had built his other wife a house down the way, and it cost 25 Mil to build, and look what it sold for...But for this family, who cares

Anonymous said...

zillow isn't accurate when it comes to properties like these. The fact that it cost $50 or $60 mil to build does not mean that it is how much it REALLY cost, or is worth. If a guy comes to a builder with a royal budget, he will get royally (insert word of choice here)-ed because every subcontractor will successfully inflate their price quote. So just because someone spent $50 million ten years ago does not mean that the value would come up so high during an appraisal. Too bad the appraisers and real estate brokers want it to climb that high, so everyone can make a profitable commission.

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