The Playboy Mansion in Holmby Hills, Ca. has officially sold for $100 million. This is $100 million less than asking and even $10 million less than was offered just last month!
Here’s what’s happening. Daren Metropoulos, a 33 yo born wealthy principal at financial firm Metropoulos & Co, has been a long time visitor of the mansions famous parties. Since he was a teen. This led him to purchase the house directly next store many years ago, presumably to make stumbling home with playmates that much easier.
When the famous mansion went up for sale a couple months ago, Metropoulos jumped on it, offering $110mm. But he soon learned that came with several caveats. The most important being Hefner gets to live there till he dies, and no aspect of the home can be changed until then. Which is madness. So who could blame Derek when he said ‘hell no’ and backed out.
Several weeks and negotiating sessions later, a deal has been reached. Daren Metropoulos will purchase the home for $100mm. As a result, he retains a landlord style ownership of the house, and Hef will pay $1mm annually in rent. Metropoulos will also have all final say on any events or parties at the legendary address, as well as guest list approval. Upon Hefners death, Daren will gain full custody of the home, at which time he will merge the property with his own, next door, creating a 7.3 acre estate in one of the most expensive neighborhoods in the world. It’s also speculated he’ll either gut the property or even tear it down, which was a huge aspect of hefner’s concern at selling.
“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.”