Playboy Mansion’s Neighbor to Buy the Property

The Playboy mansion, a stately 1927 manor in the Los Angeles neighborhood of Holmby Hills, is in contract to be sold to a financier who owns the adjacent property, according to a representative for the buyer. The mansion was listed for $200 million by broker Mauricio Umansky of the Agency, as well as Gary Gold and Drew Fenton of Hilton & Hyland. The sale price couldn’t immediately be determined. Messrs. Umansky and Fenton declined to comment, and Mr. Gold couldn’t immediately be reached. A Playboy spokesman confirmed that the mansion is in contract but declined to provide further details. The buyer, Daren Metropoulos, a principal at private-equity firm Metropoulos & Co., lives in the house next door, which he purchased from Playboy founder Hugh Hefner in 2009 for $18 million. He is passionate about the neighborhood’s architecture, a representative said. “The heritage of this property transcends its celebrity and to have the opportunity to serve as its steward would be a true privilege,” Mr. Metropoulos said. According to the terms of the sale, Mr. Hefner has the right to remain in the mansion for the rest of his life. After Mr. Hefner’s tenancy ends, Mr. Metropoulos intends to connect the two estates into a combined 7.3-acre compound, the representative said. The roughly 20,000-square-foot Playboy mansion has 29 rooms, including 12 bedrooms, on 5 acres, according to the sales listing. It is one of the few private residences in Los Angeles with a zoo license, the listing says. Playboy Enterprises acquired the property in 1971 for $1.05 million. Mr. Metropoulos, 32 years old, is the former co-chief executive of Pabst Brewing Company. His firm, along with Apollo Global Management LLC, in 2013 purchased Hostess Brands, the maker of Twinkies, promising to revitalize the brand.

If  you’ve not seen a photo of this famous mansion, click on the text above.  Then expand the view/window.  Wow..

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