Playboy Mansion’s Neighbor to Buy the Property

Playboy Mansion’s Neighbor to Buy the Property

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The Playboy mansion, a stately 1927 home famous for exotic parties where movie stars, athletes and billionaires, is to be sold to the most familiar of buyers: the neighbor. Daren Metropoulos, a principal at private-equity firm Metropoulos & Co. who bought the neighboring property  in 2009, is set to buy the property.

In a statement he mentioned that he is less interested in the fame the mansion earned over the last four decades as a playground for Playboy bunnies and more interested in preserving its architectural structure.

“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. He declined to disclose the purchase price.

The mansion, purchased by Playboy Enterprises in 1971 for $1.05 million, is the longtime home of Playboy Founder Hugh Hefner. The sale comes with one unusual condition: Mr. Hefner, 90 years old, will be able to remain in the home as long as he lives. After Mr. Hefner’s tenancy ends, Mr. Metropoulos intends to connect the two estates into a combined 7.3-acre compound, a representative for him said.

Mr. Metropoulos bought the house next door –which had been used by Hefner’s former wife to raise their two children– from Hefner in 2009 for $18 million. 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. Mr. Heffner added a heated swimming pool and a grotto in the 1970s.

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.

 

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