Playboy Mansion Sold to Hostess Brands Heir
The Los Angeles (Holmby Hills) Playboy Mansion has been sold to a member of the family that owns Hostess Brands, it was reported today.
Hugh Hefner, 90 anni, Playboy’s founder, will be permitted to continue living at the Holmby Hills estate for the rest of his life, according to the report.
The purchaser is Daren Metropoulos, 32 anni, who lives on the property next door to Hugh Hefner, which he bought from him in Y 2009 for $18-M. Metropoulos reportedly plans to merge the 2 properties once Hefner’s tenancy ends.
“The heritage of this property transcends its celebrity and to have the opportunity to serve as its steward would be a true privilege,” Mr. Metropoulos said.
Playboy Enterprises acquired the property in Y 1971. The 20,000 sqf mansion, built in Y 1927, became famous in the 1970’s and ’80’s for its many parties featuring celebrities mingling with scantily clad models.
The rumored purchase price of $100-M+ could not be confirmed. The mansion had been listed for $200-M.
Hostess Brands, LLC is a bakery company formed in June 2013. It owns several bakeries in the United States that produce snack cakes under the Hostess and Dolly Madison brand names. It is headquartered in Kansas City, Missouri and is owned by HB Holdings, LLC, which is owned by Apollo Global Management and C. Dean Metropoulos and Company.
Latest posts by Paul Ebeling (see all)
- Key Stock Indexes, Crude, Gold & Silver Markets Briefing - January 19, 2017
- Wall Street’s Top Analysts Upgrades, Downgrades & Initiations - January 19, 2017
- Chicago Agriculture Commodities Finished Mixed - January 19, 2017