Hugh Hefner has decided to list his iconic Playboy mansion for $200 million, one of the highest asking prices for a private residence in the U.S., according to Reuters. This isn’t the first time the Playboy Mansion has broken records: Hefner purchased the estate back in 1971 for $1.1 million, which was the largest real estate transaction in L.A. at the time.
Located in Holmby Hills in western Los Angeles, the 20,000-sq.-ft mansion sits on five acres of land, and famously includes amenities such as a tennis court, swimming pool, grotto and games house. The Playboy Mansion is notorious for its wild parties and events, earning appearances in popular shows and movies such as Curb Your Enthusiasm, the Entourage movie and The Fresh Prince of Bel-Air, which has allowed the public to get a glimpse of the extravagant mansion.
According to Variety, the Playboy Mansion isn’t the only investment Hefner’s made in the Holmby Hills neighbourhood; in 1996, he purchased a 2.28-acre property next door for his ex-wife and children to live in, which was sold in August 2009 for $18 million. He then bought a 1.3-acre “Bunny House” across the street in June 2001 for $4.5 million, which was sold in 2013 for $10 million.
While anyone would be lucky to live in this world-famous home, there is, however, one caveat: while Hefner is selling his estate, he isn’t actually moving out. Whoever buys the mansion is required to accept a lifetime tenancy by Hefner. Not necessarily the fairest deal in real estate transactions as it seems that Hefner’s essentially keeping his home while having someone else foot the bill.