The Playboy Mansion officially sold for $100 million, half of what it was listed for
Dan Kitwood/Getty Images
Daren Metropoulos, a principal of the private-equity firm Metropoulos & Co. and a former co-CEO of Pabst Brewing Company, paid $100 million for the historic property, a representative for Metropoulos told Business Insider.
The 20,000-square-foot Los Angeles home had originally listed for $200 million in January, which made it the most expensive home for sale in America at the time.
As part of the terms of the sale, Hugh Hefner must be allowed to stay as long as he desires. The estate was sold by Playboy Enterprises, which leases it back to the 90-year-old Hefner. The company bought the mansion 45 years ago for just over $1 million, a historically high price for the area at the time.
The five-acre property includes the main 29-room mansion and a four-bedroom guesthouse.
Metropoulos purchased the next-door estate from Playboy in 2009, reportedly paying $18 million for it.Once Hefner's tenancy ends, Metropoulos apparently intends to connect the two properties into a single 7.3-acre estate.
"I feel fortunate and privileged to now own a one-of-a-kind piece of history and art," Metropoulos said in a press release announcing the closing of the sale. "I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residence for years to come."
Jeff Minton
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market