Playboy Mansion could soon sell for a Hef-ty price

January 11th, 2016 by Staff

www.cbsnews.com)

LOS ANGELES — The most famous party house in the world — the Playboy Mansion — is said to be going up for sale. The asking price? A hef-ty sum.

From the sky, or on the grounds, the Playboy Mansion is the picture of elegance. But for decades, the insides were less than stately.

Hugh Hefner bought the Playboy Mansion in 1971 for $1.1 million. Now, Playboy Enterprises is said to be looking for nearly 200 times that much.

Playboy putting clothes on

“I think that is a stretch, but this street certainly supports $50 million, maybe $60 million,” said Greg Harris who specializes in Los Angeles’s luxury real estate.

Harris said the house appraises for about $35 million. But he acknowledges there is added historical value to the 22,000 square foot Holmby Hills home, like Graceland, or Michael Jackson’s Neverland.

But there is a catch: the buyer has to agree to a roommate, Hefner himself.

“Hefner would be able to stay in the house until he dies,” said Harris. “We haven’t seen it at that price point ever happen before. It happens from time to time.”

With that kind of asking price, Harris said a corporation or international investor would be the next likely owner.

“It’s pools, it’s grottos. Its’a a pretty big property, a lot to maintain,” said Harris. “It’s an entertainer’s home.”

So while the names of the mansion’s title may change, its reputation for excess could likely live on, which might be exactly what certain buyers are looking for.


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