The differential organization of lipid components in a multicomponent membrane leads to formation of domains having diverse composition and size. Cholesterol and glycosphingolipids are known to be important components of such lateral assembly. We report here the ordering of cholesterol around ganglioside GM I and the nature of the cluster from an all-atom simulation of a ternary lipid system. The results are compared with a binary bilayer and a pure phospholipid bilayer. The difference in molecular rearrangements in ternary and binary lipid mixture shows the role of GM1 in the rearrangement of cholesterol. Calculation of the radial distribution function, rotational reorientation, and residence time analysis of cholesterol shows that cholesterol is preferentially accumulating near gangliosides, while the lateral translational motion, rotational diffusion, and order parameter of phospholipids characterize the amount of rigidity imparted on the phospholipid bilayer.