Saturday 19 August 2017

Hugh Hefner's famed Playboy Mansion sells for $100m

The Playboy Mansion, the legendary party house where Hollywood's eilte cavorted with scantily-clad
The Playboy Mansion, the legendary party house where Hollywood's eilte cavorted with scantily-clad "bunnies

Piya Sinha-Roy

The famed Los Angeles Playboy mansion belonging to Hugh Hefner, founder of the Playboy empire, has been sold for $100 million, and Hefner, 90, will live in the mansion for the rest of his life, a representative for the buyer said in a news release on Tuesday.

The property was bought by Daren Metropoulos, a principal at private equity firm Metropoulos & Co, for half of the $200 million it was initially listed for earlier this year.

Metropoulos said Hefner's 1927 Gothic Tudor-style mansion, which has an area of 20,000 square feet (1,858 square metres), had a "rich and storied legacy" and is a "masterpiece in design."

Hefner and Playboy Enterprises did not comment on the sale.

The property, which was purchased by Playboy in 1971 for a reported $1.1 million, sits amid 5 acres (2 hectares) in Holmby Hills, west of Los Angeles, and includes 29 rooms, a tennis court and a free-form swimming pool - and has a zoo license.

It is home to the famous Playboy grotto, which over the years served as the setting for some of Hefner's most lavish, hedonistic parties.

A general view of the Playboy Mansion during the premiere of
A general view of the Playboy Mansion during the premiere of "The Transporter Refueled" in Los Angeles, California August 25, 2015. REUTERS/Mario Anzuoni

The news release said that after Hefner's tenancy concludes, Metropoulos plans to reconnect the Playboy Mansion property with a neighboring estate that he purchased in 2009, combining the two for a 7.3 acre (3-hectare) compound as his own private residence.

The Playboy Mansion is up for sale (AP)
The Playboy Mansion is up for sale (AP)

Reuters

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