Reports say Hugh Hefner's neighbor is buying the property, which is expected to set a record for the priciest residential sale in Los Angeles. Video provided by Newsy


The Playboy mansion, the home of Playboy magazine founder Hugh Hefner, is under contract to be sold to a neighbor, according to property owner Playboy Enterprises.

Daren Metropoulos, principal at private equity firm Metropoulos & Co., which owns Twinkies-maker Hostess Brands, plans to buy the 20,000-square-foot house in Holmby Hills, a Los Angeles neighborhood near Beverly Hills. Metropoulos has agreed to let Hefner, 90, live in it for the rest of his life.

The house was listed at $200 million, but the final sale price was not disclosed.

Metropoulos is the son of C. Dean Metropoulos, the Greece-born billionaire who once owned Pabst Brewing Co.

Daren Metropoulos bought the house next to the Playboy mansion from Hefner in 2009 for $18 million, according to The Wall Street Journal, which first reported about the sale of the mansion.

The Playboy mansion has 12 bedrooms, sits on five acres of land and comes with a cave-like grotto and a zoo license, according to the listing.

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