By Lauren Beale
LOS ANGELES – In the uber-wealthy circles of Los Angeles, where residential real estate prices frequently involve one-upmanship, asking figures have reached as high as $195 million … until now. The storied Playboy Mansion — the sometimes party palace, work place and home of media magnate Hugh Hefner — is up for the taking at $200 million.
In an unusual stipulation, however, the buyer will have to agree to allow the 89-year-old patriarch playboy to remain in residence for the remainder of his lifetime.
Set on more than five acres in the Holmby Hills area of L.A.’s Westside, the estate has been the site of many a wild party over the last four-plus decades.
The castle-like Tudor-style mansion, built in 1927, features a two-story dual-stairway entry with
wood beamed ceilings, Hefner’s wood-paneled office, a wine cellar, a home theater, a gym and a catering kitchen within 20,000 square feet of living space. There is a four-bedroom guesthouse, a tennis court and a freeform swimming pool with a waterfall area and cave-like grotto.
A large motorcourt with a central fountain sits at the front of the main house. The property has entrances off two streets and adjoins the Los Angeles Country Club. Neighbors over the years have included prolific television and film producer Aaron Spelling and radio celebrity Casey Kasem.
Koi ponds, expanses of lawn and mature trees complete the grounds.
The mansion was bought in 1971 for a reported $1.1 million. Playboy Enterprises is the seller.
The listing agents are Drew Fenton and Gary Gold of Hilton & Hyland, an affiliate of Christie’s International Real Estate, and Mauricio Umansky of The Agency.
Realty News Report contributor Lauren Beale covered celebrity real estate in the Hot Property column at the Los Angeles Times for a number of years. Previously, she worked as the newspaper’s real estate editor. Lauren is a past president of the National Association of Real Estate Editors.