The legendary party house, Playboy Mansion which became famous during the 1970s through media reports of the owner’s lavish parties where Hollywood’s elite made merry is being sold off to its next door neighbor – the billionaire who owns Twinkies.
The 90-year-old owner and founder of the Playboy Magazine, Hugh Hefner, will get authorization to stay in the mansion for the rest of his life.
The 32-year-old buyer Daren Metropoulos, who is a business tycoon paid a whooping $18 million for the property he now occupies which he also bought from Hefner in 2009.
However, the amount paid on the Playboy Mansion is not yet known, although the estate was valued at $200 million when Playboy Enterprises put it up for sale earlier this year.
“We can confirm that the Playboy Mansion is in escrow with Daren Metropoulos as the buyer,” a Playboy spokesman confirmed.
“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 Mansion buyer Metropoulos is a principal at private-equity firm Metropoulos and Co., which co-owns Hostess Brands, maker of popular American snack Twinkies.
The aim of acquiring the mansion is to combine the two estates into an epic 7.3-acre compound once the original owner Hefner dies.
The Wall Street Journal quoted Metropoulos as saying the mansion’s heritage “transcends its celebrity” and that “to have the opportunity to serve as its steward would be a true privilege.”
An edifice built in 1927 and bought by Hefner for $1 million in 1971, the property witnessed a lot of Hollywood’s infamous pool parties characterized by a lingerie-only dress code for the female guests who danced around in high spirit and some other amorous and crazy acts displayed by celebrities.