Hugh Hefner will pay $1 million a year to live in the Playboy Mansion
As part of the terms of the sale, the Playboy founder must be allowed to stay as long as he desires. A source familiar with the transaction told Business Insider that Hefner still has to pay rent: to the tune of $1 million a year.Hefner never technically owned the Los Angeles estate. Metropoulos purchased the home from Playboy Enterprises, which had leased it to Hefner. Under that arrangement, Hefner had reportedly paid a shockingly low $100 a year to live there. Playboy bought the mansion 45 years ago for just over $1 million, which was a historically high price for the area at the time.Advertisement
The 20,000-square-foot home had originally listed for sale for $200 million in January, which made it the most expensive home for sale in America for much of 2016. The five-acre property includes the main 29-room mansion and a four-bedroom guesthouse.
Gary Gold and Drew Fenton of Hilton & Hyland had the listing, along with Mauricio Umansky of The Agency. Jade Mills of Coldwell Banker Previews International represented Metropoulos.