Jun 08

Hef’s Neighbor Buys Playboy Mansion

Hef’s Neighbor Buys Playboy Mansion

 

Hef’s Neighbor Buys Playboy Mansion

Hef’s Neighbor Buys Playboy Mansion

 

Here’s why you should consider marketing homes to the neighbors: Daren Metropolis, who owns the property adjacent to the Playboy Mansion, is under contract to purchase Hugh Hefner’s infamous home.

Metropoulos, the principal at the private equity firm Metropolis & Co. which famously rescued Twinkie snacks from extinction, noted in a statement that he is not as interested in the fame around the mansion’s wild parties but is more interested in preserving the architectural significance of the home.

“The heritage of this property transcends its celebrity, and to have the opportunity to serve as its steward would be a true privilege,” Metropoulos said in a statement.

The home was listed for $200 million by broker Mauricio Umansky of The Agency and Gary Gold and Drew Fenton of Hilton & Hyland. Metropoulos declined to disclose the purchase price.

Hyland told The Wall Street Journal that the price, however, would set a record for the highest priced residential sale in Los Angeles. Hyland also said the property received multiple offers.

The Playboy mansion made headlines when it went up for sale earlier this year with an unusual caveat: The sale was contingent on Hugh Hefner, 90, the Playboy founder and longtime resident of the home, being able to remain in the home as long as he lives.

Once Hefner leaves the property, Metropoulos says he plans to connect the Playboy estate to his current estate and create a 7.3-acre compound. Metropoulos had purchased the house next door in 2009 from Hefner for $18 million.

The Wall Street Journal reports that the Playboy mansion sale comes at a time when there has been a surge in $100 million-plus listings. About 27 properties across the world are listed for $100 million or more. That compares to 19 last year.

Source: “Playboy Mansion’s Neighbor to Buy the Property,” The Wall Street Journal (June 6, 2016)

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