The famed Los Angeles mansion of Hugh Hefner, founder of the Playboy empire, is under contract to be sold to private equity executive, Daren Metropoulos, Hefner’s next-door neighbour, a Playboy Enterprises spokesman said.
The Gothic Tudor-style mansion, which measures 20,000 sq ft (1,858 sq m), was listed earlier this year for $200m, Reuters reported in January.
Metropoulos is a principal at private equity firm, Metropoulos & Co. He did not comment.
“We can confirm that the Playboy mansion is in escrow, with Daren Metropoulos as the buyer. Due to confidentiality restrictions, we are not able to comment on any specifics, including what contingencies need to be cleared to close the sale,” the Playboy spokesman said in an emailed statement.
In addition to a tennis court, free-form swimming pool, and other amenities, the estate is home to the Playboy grotto, which, over the years, was the setting for some of Hefner’s most lavish parties.
The mansion was built in 1927 and purchased by Playboy in 1971, for a reported $1.1m, which property agents said was the largest real-estate transaction in Los Angeles history at that time.
Both sides declined to reveal the sale price, but a representative for Metropoulos said terms would allow Playboy Magazine’s 90-year-old founder to remain in the mansion for the rest of his life.
Metropoulos bought his current home, next door to the mansion, from Hefner in 2009, for $18m.
Hefner’s home sits on five acres and has 29 rooms, including a game house, home theatre, wine cellar, gym, tennis court, swimming pool and four-bedroom guest house.
Metropoulos’ home was built in 1929 and sits on about two acres.
The 32-year-old executive is the former co-owner and co-CEO of Pabst Brewing Company, and co-owner of Hostess Brands, maker of Twinkies and other popular snacks.
With his father and brother, he’s a principal in the family investment firm, Metropoulos & Co.
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