Tuesday 20 March 2018

Hefner's 'dilapidated' Playboy Mansion on sale for €180m

Hugh Hefner and his wife Crystal Harris
Hugh Hefner and his wife Crystal Harris

Robert Tait

It has long been a byword for glitz, glamour and hedonistic excess.

Now the Playboy Mansion's era as a venue for no-holds-barred celebrations for the rich, beautiful and famous is due to end, amid reports that it has been put up for sale.

Hugh Hefner, the founder and publisher of 'Playboy' magazine, has put the Holmby Hills property on the market for $200m (€180m) - with a condition that the 89-year-old be allowed stay in the house until he dies.

The news is likely to trigger interest from a host of buyers thanks to the six-acre property's notoriety and its prime location, close to Beverly Hills, where properties have been known to change hands for much higher prices.

However, the Playboy mansion is said to be in a dilapidated state, with mismatching rooms and old-fashioned decor that have led some observers to conclude that the house, built in 1927, is in a "pull-down" state, with its main value lying in the land it occupies.

The magazine magnate's bedroom, long a subject of speculation, will be off-limits to would-be buyers asking for a tour.

A comparable-sized nearby property recently sold for $60m. The Playboy Mansion's historic reputation could lift its eventual sale value to around $80m-$90m, experts say.


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