The Playboy Mansion has a new owner.
Daren Metropoulos, a principal at investment firm Metropoulos & Co., acquired the property for $100 million Page Six learned. The deal was signed and completed on Tuesday.
Metropoulos nabbed the property for one hundred million less than the original asking price.
As a condition of sale, Hugh Hefner will occupy the mansion for his lifetime before any renovations can begin. Hefner will also pay $1 million a year in rent. All statues and arcade games were also included in the sale.
“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 said in a press release. “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.”
Metropoulos, 33, purchased the home next door in 2009 for his own personal residence. He will eventually connect the two estates creating a 7.3 acre compound.
“I feel fortunate and privileged to now own a one-of-a kind piece of history and art,” Metropoulos said. “I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residences for years to come.”
Hefner, 90, purchased the home in 1971 for $1.1 million. It boasts 29 rooms, a koi pound, a citrus orchard, waterfall and three zoos.
Jade Mills of Coldwell Banker Previews International represented Metropoulos in the sale. Hilton & Hyland and The Agency were the listing agents.