August 19, 2016
Daren Metropoulos, a principal at investment firm Metropoulos & Co., closed a $100-million acquisition of the Playboy Mansion. Hugh Hefner, founder of Playboy Enterprises, will continue to occupy the Holmby Hills residence for his lifetime.
The purchase is believed to represent the largest price ever paid for a single-family home in LA.
Originally designed in 1927 and purchased for $1 million in 1971, the iconic 5-acre property includes a 22,000-square-foot gothic Tudor house, several accessory structures, and one of the few private zoos in the city that houses numerous monkeys and exotic birds.
Cox, Castle & Nicholson’s Paul Titcher, Ira Waldman, Corin Korenaga and Scott Abrahamson represented the buyer.
Titcher says, “This was not a typical residential purchase transaction…the transaction also involved several highly unique and complex negotiated arrangements between the buyer and seller. This was truly a one-of-a-kind deal.”
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