The Playboy Mansion

The Playboy Mansion- The Wall Street Journal

Playboy Mansion Sale Is Next Step in Business Transformation:

Exclusive Photos

Asking $200 million, Playboy Enterprises plans to reinvest the proceeds of the sale; a buyer would have to remodel the ‘dated’ interiors and let tenant Hugh Hefner remain

By

CANDACE TAYLOR

Jan. 11, 2016 1:41 p.m. ET

The Playboy Mansion—the sprawling Los Angeles house that over four decades came to embody Hollywood’s sybaritic party culture—is going on the market for $200 million. 

Longtime resident Hugh Hefner has no plans to leave: Seller Playboy Enterprises is stipulating Mr. Hefner, 89, be allowed to remain at the home for the rest of his life. 

Founded by Mr. Hefner in 1953, Playboy helped usher in the sexual revolution, but more recently has shed staff and reorganized its business. Scott Flanders, Playboy Enterprises’ chief executive, said in a statement that the sale of the mansion “enables us to continue to reinvest in the transformation of our business.” “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,” he added. 

Founded by Hugh Hefner in 1953, Playboy helped usher in the sexual revolution, but more recently has shed staff and reorganized its business. 

On roughly 5 acres, the property is one of the largest in Holmby Hills and borders the Los Angeles Country Club. According to listing agents Mauricio Umansky of the Agency and Gary Gold and Drew Fenton of Hilton & Hyland, the mansion is roughly 20,000 square feet. The property includes an elaborate swimming pool and grotto, zoo and game house. 

The estate is in need of renovation. “The house will require remodeling, for sure,” Mr. Umansky said, though he added that the value of the land alone is close to $100 million. The home’s interiors are “dated and will need to be remodeled and redesigned,” he said. Moreover, a buyer may want to increase the size of the house.

Acquired by Playboy Enterprises in 1971 for $1.05 million, the mansion is the longtime home of Mr. Hefner, who rents the mansion from the company for a “small, nominal amount each year,” according to a Playboy spokesperson. While Mr. Hefner’s remaining at the property is “nonnegotiable,” Mr. Umansky said, the exact terms of the arrangement will be determined during purchase negotiations.

The Playboy Mansion- VARIETY

Buckle your real estate safety belts, butter beans because as of this morning the Playboy Mansion has officially hit the market with an official and officially eye-popping asking price of $200 million, the highest asking price ever for a residential property in Los Angeles. The gargantuan listing is being handled by a trio of Platinum Triangle powerhouse brokers, Mauricio Umansky at The Agency and Gary Gold and Drew Fenton at Hilton & Hyland. - READ THE FULL ARTICLE ON VARIETY.com

The PLayboy Mansion- ARCHITECTURAL DIGEST

“The grounds are absolutely breathtaking,” Gold says. There’s also a koi pond, a small citrus orchard, and two well-established forests of tree ferns and redwoods. After Hefner’s reign comes to an end, Metropoulos plans to combine his two properties into one that will span 7.3 acres. -READ THE FULL ARTICLE ON AD.com

The Playboy Mansion- FORTUNE

6.jpg

The property has been co-listed by two Los Angeles real estate agencies, Hilton & Hyland and The Agency. Built in 1927, the property's dazzling array of amenities includes a tennis court and a swimming pool, but even if the new owner of the property shuns the outdoors, this individual will still have nearly 20,000 square feet and 29 rooms in which to vegetate.

The mansion has six bedrooms, six full bathrooms and two half baths. It also has four buildings on-site -- a four-bedroom guest house, a game house, a bathhouse and a gym. It also has its own zoo license, one of only a few places in Los Angeles to have one that's not an actual zoo. - READ THE FULL ARTICLE ON FORTUNE.com