The Playboy Mansion was officially sold for $100 million this Tuesday to Hugh Hefner’s next-door neighbor Daren Metropoulos, a principal at Metropoulos & Co.
Originally it was listed for $200 million at the beginning of the year, but the co-owner of the Hostess brand closed the deal today buying it for the half of the price.
According to a representative of Metropoulos, the founder of the Playboy empire will continue to live in the mansion for the rest of his life, as Flanders said at the beginning of the year. About the mansion, Metropoulos talked about how iconic the property is and how important it is to the Holmby Hills.
“THE MANSION HAS BEEN A CREATIVE CENTER FOR HEF AS HIS RESIDENCE AND WORKPLACE,” said Scott Flanders, the Playboy Enterprises CEO in a statement in January. “AS IT WILL CONTINUE TO BE IF THE PROPERTY IS SOLD,” Flanders added.
He also noted the mansion’s design and construction, made by a famous architect during the development of Los Angeles earlier in the 1900’s.
The Playboy Mansion has an area of 1828 square meters. It is located in Holmby Hills at the west of Los Angeles and was originally bought in 1971 for $1.1 million. It has 29 rooms, a free-form swimming pool, a wine cellar, gym, tennis court, home theater and a zoo license.
The mansion is used for Hefner’s own parties but it is also known to host charity events and corporate parties. It has also been featured in movies, TV shows, and music videos
Daren Metropoulos and his future plans for the Playboy Mansion
Daren Metropoulos is the son of C. Dean Metropoulos, a billionaire businessman and former head of Pabst Brewing Company estimated in over $2.4 billion.
In 2009 Metropoulos bought the property next to the Playboy Mansion for $18 million, it was built in 1929, just two years after the famous mansion.
He has invested in the property since he bought it, restoring the house by making improvements to the gardens and the grounds which has a gate that connects directly to the Playboy Mansion.
Metropoulos is planning to reconnect the Playboy Mansion to his neighboring state and has it as his private residence. He wants to make them a 7.3-acre property like the architect Arthur R. Kelly originally thought of it.
“I FEEL FORTUNATE AND PRIVILEGED TO NOW OWN A ONE-OF-A-KIND PIECE OF HISTORY AND ART,” said the new owner of the mansion.