Playboy Mansion Sells for $100 Million
A principal of a private equity firm purchased the Playboy Mansion, but Hugh Hefner is allowed to remain at the residence until he moves or dies – reportedly for $1 million in annual rent. The purchaser also bought the next door property in 2009 for $18 million. Once Hefner is out/dead,the two properties will be combined into a single 7.3 acre estate. Playboy Mansion Sells for $100 Million.
The new “owner”, 32 year old Daren Metropoulos, is the son of billionaire investor Dean Metropoulos. He flipped Pabst Brewing Co two years ago for $700 million in cash, a $550 million profit.
The Playboy Mansion is reportedly just shy of 22,000 square feet – although many news outlets use an estimate 20,000.
A 50,000 square foot residence called Fleur de Lys sold in 2014 for $102 million. It was on the market off and on for 7 years with an original list price of $125 million in 2007 after the divorce of Metro Networks founder David Saperstein and his socialite wife, Suzanne.
The 56,500 sqft residence of former TV producer Aaron Spelling sold for $85 million in 2011 to the 22 year old daughter of Formula 1 billionaire Bernie Ecclestone. It was reportedly on the market in 2014 for $150 million (after $20-25 million refurbishment)
The table below summarizes the three transactions and the listing on the Spelling home.
Based on the comparable transactions of Fleur de Lys and the Spelling home, as well as the current asking price of the Spelling home, the Playboy Mansion sold at a premium of close to $2,000/sqft or $44,000,000.
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