The legendary Playboy Mansion is set to hit the market for north of $200 million, making it one of the most expensive property listings in the country. However, the new owner would likely raze the existing mansion, which played host to infamous parties for decades.
Built in 1927, the 6-acre Holmby Hills estate will officially hit the market sometime within the next month, a source told TMZ. The source also told TMZ that Playboy Enterprises will most likely never come close to realizing their sky-high asking price. Beyond the notorious history of the house, the value of the property is mostly in the land. A comparable lot recently sold in the area for $60 million.
But there is another catch. The new owner would be required to give Hugh Hefner a life estate, meaning that the famed ladies man would continue to live in the mansion until he dies.
[TMZ] –Christopher Cameron