The Playboy Mansion is for sale, and Hugh Hefner is included in the deal. The 89-year-old Playboy Magazine owner is selling the historic estate for $200 million, but the buyer has to agree to let him continue living there until he dies. Hefner is married to a 29-year-old former Playmate of the Month Crystal Harris.
Hugh Hefner (Hef) is willing to pay rent to the buyer of the 22,000-square-foot Playboy Mansion. The announcement of the estate sale with the extremely unusual concession comes shortly after Hefner announced that Playboy Magazine would soon stop featuring photos of completely nude women. Online porn has become a huge competitor for the magazine, which had experienced decades of success.
Hefner bought the Playboy Mansion in 1971 for a then-record price of $1.05 million. The CEO of the popular magazine rents the living and recreational areas of the estate from Playboy Enterprises, MSN reports.
— New York Magazine (@NYMag) January 11, 2016
The Playboy Mansion was reportedly built in 1927 and is located in the affluent area of Holmby Hills. Some real estate brokers think Hugh Hefner is asking too much for his mansion. The Fleur de Lys Estate in the same neighborhood sold for $102 million last year. The comparable sale was reportedly larger and more ornate that Hef’s digs. However, the allure of owning the property where so many celebrities have roamed and partied might entice some buyer to pay up for the property.
A bank will only lend as much as a real estate appraiser says a property is worth, so a lot of cash may also be required to make up the difference between the loan current market value determination and Hefner’s asking price for the mansion.
The Playboy Mansion boasts a home theater, gym, tennis court, swimming poll with a grotto, catering kitchen, and wine cellar among its 29 rooms. The five-acre estate also includes a series of exotic pet habitats, tanning beds, bird aviaries containing about 300 different bid varieties, and a four-bedroom guest house. The property is one of the few private residences in the United States that comes complete with a zoo license. Spider monkeys are among the residents of the exotic animal enclosures.
Hugh Hefner’s home was listed for sale by Drew Fenton and Gary Gold of Hilton & Hylan and Mauricio Umansky of The Agency.
In the following video, Holly Madison talks about life at the Playboy Mansion after moving out of the lavish estate.
Hugh Hefner named a property he purchased in Chicago the Playboy Mansion in 1959 – the same year he launched the magazine. After buying the lavish estate in Los Angeles, he decided to name it Playboy Mansion West and moved onto the property and made it his permanent residence.
Hugh Hefner’s selling the Playboy Mansion for $200 Million…as long as he can continue living in it. https://t.co/Hr4jbtfc7W
— Complex (@ComplexMag) January 10, 2016
Playboy Enterprises CEO Scott Flanders says the sale of the mansion would help the company “reinvest in the transformation” of the business while still permitting Hefner go on living in the home, the Huffington Post reports.
“The Playboy Mansion has been a creative center for Hef as his residence and workplace for the past 40 years, as it will continue to be if the property is sold,” Flanders stated in a media release.
Would you like to buy the Playboy Mansion if it was in your budget?
[Photo by Kristian Dowling/AP]