The property was listed for $200 million.
The famous Playboy Mansion owned by Hugh Hefner, founder of the Playboy magazine, has been sold to Daren Metropoulos, the son of billionaire investor C. Dean Metropoulos and principal at the investment firm Metropoulos & Co., for $100 million.
According to Los Angeles Times, Hefner, 90, will be allowed to live in the mansion for the rest of his life. The property was listed for $200 million earlier this year. This is the biggest ever home sale in Los Angeles County according to the report.
“The Playboy Mansion is one of the most iconic properties in the world and the crown jewel of Holmby Hills and the platinum triangle,” Metropoulos was quoted as saying.
“For the last 45 years, Mr. Hefner has imbued the estate with a rich and storied legacy. The property’s heritage is not only that of a famous address; it is a true masterpiece in design, constructed by a noted architect for a family who played an important role in the development of Los Angeles in the early 20th Century,” he added.
Metropoulos had bought a property near to the mansion in 2009 and has plans to combine both the estates together.
“I feel fortunate and privileged to now own a one-of-a-kind piece of history and art. I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residence for years to come,” said Metropoulos.
Constructed in 1927, the stone-lined Gothic-Tudor-style home sits amid 5 acres (2 hectares) in Holmby Hills, west of Los Angeles. The 29-room mansion has an area of 20,000 square feet.
Designed by Arthur R Kelly, the mansion has 12 bedrooms, a master suite, catering kitchens, a game room, a wine cellar and a screening room with a built-in pipe organ. The property also includes a tennis court, an orchard, a four-bedroom guesthouse and a free-form swimming pool. It is one of the few homes in the area to have a zoo license.
Playboy bought the property for about $1.1 million in 1971. According to media reports, Playboy Enterprises will pay $1 million a year to lease the property.