Live Like A Playboy — Hugh Hefner’s Mansion Listed For $200 Million, But There’s A Big Catch

Live Like A Playboy - Hugh Hefner's Palatial Mansion Listed For $200 Million

The iconic Playboy mansion is up for sale. The most famous estate near Beverly Hills has been listed for an asking price of $200 million. Apart from the rather steep asking price and the confirmed lack of Playboy bunnies in the near future, there’s a big and rather old and wrinkled caveat that just might put off interested buyers.

Citing real estate sources, TMZ reported the Playboy mansion is about to be listed on the real estate market. Playboy Enterprises, the current owner of the relatively modest estate, as compared to many lavish properties nearby, may be expecting as much as $200 million. The only catch is, the one who is willing to fork out the cash will have to tolerate the founder of the Playboy empire — Hugh Hefner — living on the premises.

Anyone interested in the Playboy mansion will have to allow Hefner to live on the property. The condition will expire along with Hefner. The new owner of the six-acre Holmby Hills estate will have to accommodate Hefner until his dying breath. Hefner’s bedroom, too, will remain off-limits to the new owners. Not that anyone would choose to dare and venture, his bedroom won’t be a feature during the personal tours that may be arranged for prospective buyers.

Live Like A Playboy - Hugh Hefner's Palatial Mansion Listed For $200 Million
Though Hefner is 89-years-old and has been partying hard his entire life, and according to the Inquisitr, is surrounded by nurses instead of Playboy bunnies, there’s no definitive timeline to the condition. From a legal perspective, the buyer will have to give magazine publisher Hugh Hefner a life estate, which entitles the octogenarian to live in the mansion until his death, reported New York Daily News.

Many speculate the asking price is way too steep and, quite frankly, ridiculously unrealistic. In fact, the 29-room Holmby Hills house isn’t as desirable as the six acres of prime real estate it stands on. Real estate experts have pegged the value of the property at a rather reasonable sum of $60 million.

The value was calculated based on the sale of similar properties in the same region. Moreover, when a 2011 lawsuit was filed, alleging Hugh Hefner deliberately undervalued the Playboy mansion when he took the company private, shareholders had estimated the value of the mansion at about $54 million. Incidentally, online real estate listing platform Zillow has pegged the value of the Playboy mansion at a smidgen below $34 million.

The 89-year old estate, which Hefner bought for $1.05 million in 1971 from chess master and engineer Louis D. Statham, has 22 rooms. There is a wine cellar as well as a movie theatre, apart from several tennis courts. Additionally, there’s a rumored off-limits bedroom dubbed the “Elvis” room, where the legendary singer once reportedly slept with eight Playmates at one time, reported the Daily Mail.

Live Like A Playboy - Hugh Hefner's Palatial Mansion Listed For $200 Million
However, the insane history and the widely accepted haven of debauchery could jack up the price closer to $80 to $90 million. Besides being the seemingly permanent resident to the most beautiful women on the planet, Playboy mansion is famous for its pool and the surrounding area that has witnessed some of the most lavish and extravagant parties frequently attended by celebrities. New owners will also have access to a whirlpool hot tub in the infamous caved “grotto.” Apart from hosting the annual Midsummer Night’s Dream Party, the Playboy mansion has frequently been rented out for music videos, television shows, and movies.

The final selling price might be influenced by the reportedly dilapidated state of the Playboy mansion. Allegedly due the insistence of Hefner, there are several mismatching rooms and the interiors are reportedly “stuck in the 80s.” If the new owners aren’t a huge fan of Playboy, they might just pull down the Playboy mansion, but even to do that, they will have to wait till Hefner passes away.

[Photo by Charley Gallay/Getty Images]