Hugh Hefner takes out reverse mortgage on Playboy Mansion
Back in June I reported that the Playboy Mansion, complete with private zoo and Hugh Hefner in residence, had been listed for sale for $200 million. It has now been confirmed that the property has been sold to next-door neighbor Daren Metropoulos, a private equity investor, for a mere $100 million. Terms of the sale allow Mr. Hefner to stay in the property for as long as he desires, so I suppose one could say that he has taken out a reverse mortgage on his estate.
“I feel fortunate and privileged to now own a one-of-a-kind piece of history and art,” Metropoulos said in a press release announcing the closing of the sale. It is not clear whether he was referring to the property or to Mr. Hefner.
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