The number one rule of real estate? Always offer the property to the guy next door first. That’s how the Playboy Mansion got its new owner.
Daren Metropoulos, a principal at the investment firm Metropoulos & Co., lives next door to the iconic home, and has now purchased it for $100 million, a Playboy rep confirmed to ABC News.
The home’s previous owner, Hugh Hefner, will remain in residence for the rest of his life, under the terms of his agreement with Metropoulos.
“The Playboy Mansion is one of the most iconic properties in the world and the crown jewel of Holmby Hills and the platinum triangle,” Metropoulos said in a statement. “For the last 45 years, Mr. Hefner has imbued the estate with a rich and storied legacy.”
“The property’s heritage is not only that of a famous address; it is a true masterpiece in design, constructed by a noted architect for a family who played an important role in the development of Los Angeles in the early 20th Century,” he added.
Metropoulos is the son of billionaire C. Dean Metropoulos. Metropoulos & Co. famously bought Hostess after the company filed for bankruptcy in 2012.
The Playboy Mansion, which is located on five acres of land, had an initial price tag of $200 million, according to the listing. It boasts 29 rooms, including a wine cellar, a home theater and a catering kitchen. It also has its own zoo license.
Hefner bought the mansion in 1971, and quickly turned it into ground zero for celebrity frolicking.