The Playboy Mansion in Los Angeles sold for almost $100 million, and Playboy Enterprise founder Hugh Hefner is included the deal, which stipulates the 90-year-old will live out his remaining days at the mansion.
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Mr Titcher told The American Lawyer that the deal “was this one of the most expensive home purchases in the history of LA” and involved several ‘several highly unique and complex negotiated arrangements between the buyer and seller, ‘ one of which is that the 90-year-old Hugh Hefner will be allowed to live in the mansion for the rest of his life.
Upon taking possession of the home, Metropoulos intends to combine his current property with the Playboy Mansion’s five acres. Since then, he has embarked on a significant restoration, making substantial improvements to the property’s formal gardens and expansive grounds, which are adjacent to the Los Angeles Country Club and include the original gate that connects to the Playboy Mansion.
Hugh M. Hefner has called the Playboy Mansion his home and office since 1971. The new owner calls the mansion “a masterpiece in design”. This will restore it to the combined 7.3 acre estate it was in 1927 when it was originally developed.
The Wall Street Journal reported Tuesday the closing of the sale to neighbor Daren Metropoulos, who co-owns Hostess Brands, maker of Twinkies, Ho Hos and Ding Dongs. “I look forward to eventually rejoining the two estates and enjoying this lovely property as my private residence for years to come”.
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Metropoulos co-manages Metropoulos & Co. with his billionaire father Dean.
