Hef’s digs swap hands
Deal signed last year allowed Hugh Hefner to stay until he died
The passing of Hugh Hefner leaves the future of the famed Playboy Mansion to a member of the business family that revived iconic consumer brands from the Hostess Twinkie to Pabst Blue Ribbon beer.
J. Daren Metropoulos closed a $100 million deal in August 2016 for the ultraluxury Los Angeles property and often X-rated adult playground where Hefner and Playboy Bunnies mingled with the rich and famous — and others who wanted to be.
The announcement of the sale, for half the listing price, confirmed that Hefner would be allowed to live the rest of his days in the mansion. Playboy Enterprises agreed to pay $1 million annually to lease the property, the Los Angeles Times reported.
Hefner’s death Wednesday, at age 91, means the 34-yearold Metropoulos, who lives next door, may now realize his own dreams for the property.
Metropoulos declined to discuss specifics of the mansion’s future Thursday, saying in a statement issued through spokeswoman Hannah Arnold that his thoughts were with the grieving family of an American icon.
“Hugh Hefner was a visionary in business, a giant in media and an iconic figure of pop culture whose legacy will leave a lasting impact,” Metropoulos said. “I was fortunate to know him as a neighbor and friend, and I extend my deepest sympathies to his family.”
However, Metropoulos dropped a potential hint at the time of the sale. He said then that he might eventually combine the mansion and its estate with the nine-bedroom, seven-bathroom adjoining home property. Records show he bought that property from Hefner and then-wife Kimberly Conrad Hefner for
$18 million in 2009.
“I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residence for years to come,” Metropoulos said at the time.
Representatives of Playboy Enterprises did not immediately respond to emails seeking comment.
The nearly 20,000-square foot mansion was designed by Arthur R. Kelly in 1927 for Arthur Letts Jr., son of the British businessman who founded Broadway Department Stores in the early years of the 20th century. Playboy Enterprises acquired the home from Louis Statham, an engineer, inventor and chess aficionado, in 1971 for $1.1 million, according to the real estate listing.
During Hefner’s life, the listing said the mansion featured 12 bedrooms, 21 full or partial bathrooms and amenities that included a home theater, a wine cellar, a separate game house and a “free-form swimming pool with a large, cavelike grotto.” The mansion is also one of the few Los Angeles private homes with its own zoo permit.
Metropoulos and older brother Evan are sons of C. Dean Metropoulos, a Greek immigrant and business turnaround specialist who partnered with Apollo Global Management to buy Hostess out of bankruptcy in 2013 for
$410 million. Metropoulos & Co. also revived Pabst Brewing, selling the beer company in 2014 for an estimated
$750 million.
Under Dean Metropoulos’ leadership, the company also bought, spiffed up and resold other famous brands ranging from Chef Boyardee, Bumble Bee Tuna and Perrier-Jouet champagne.
J. Daren Metropoulos,
34, who lives next door, bought the property for
$100M in August 2016.