People

Stay Connected

Subscribe

Advertise With Us

Learn More

Skip to content

Celebrity

Hugh Hefner’s Neighbor to Buy Playboy Mansion

Posted on

It’s the end of an era: The Playboy Mansion has sold!

The Playboy Mansion is in escrow with nearby neighbor Daren Metropoulos as the buyer, a Playboy spokesperson told PEOPLE. Although they can confirm the house in in contract, the representative declined to give additional details, including the sale price.

RELATED: Mandy Moore Lists the L.A. Home She Shared with Ex Ryan Adams — Take a Tour

The iconic site located in Los Angeles was listed in January for $200 million. Besides the steep price tag, the sale also comes with another stipulation: The buyer has to allow Hugh Hefner a life estate so he can remain in the home until his death.

WATCH THIS: Holly Madison Considered Suicide During Life in the Playboy Mansion

But Metropoulos, 32, seems to be up for it, as PEOPLE can confirm that Hefner and wife, Crystal, will continue to live in the Mansion.

This isn’t Metropoulos’s first experience with Hefner in the real estate market, either. In 2009, Metropoulos, a principal at private-equity firm Metropoulos & Co., purchased his current property from Hefner for $18 million, according toThe Wall Street Journal.

RELATED: PHOTOS: Tyra Banks Slashes Beverly Hills Mansion Asking Price by $1.25 Million

At 20,000 square feet, the Playboy pad features 12 bedrooms, 21 baths and “every amenity imaginable,” as the Agency and Hilton & Hyland listings state. It’s also one of the few private residences in L.A. to have a zoo license. And, of course, there’s the infamous grotto. If those walls could talk…