Magazine article Variety

Digs

Magazine article Variety

Digs

Article excerpt

The Boy Next Door

The Playboy Mansion is about to be sold to businessman (and next-door neighbor) Daren Metropoulos. The famous estate hit the market earlier this year with an asking price of $200 million, and is said to be in escrow for right around $120 million. The main residence was designed by celebrated architect Arthur Kelly and built in the mid-1920s for department-store heir Arthur Letts Jr. It was later owned by Louis Statham, a prolific inventor and avid chess player, who sold it to Hugh Hefner in 1971 for a then-recordbreaking $1.05 million. The 5.3acre spread, in the hoity-toity Holmby Hills hood, is one of the few properties in Los Angeles with a zoo permit. Young Mister Metropoulos, the fortunately born thirtysomething son of billionaire investor C. Dean Metropoulos - the man responsible for saving the Twinkie and owning the Pabst Blue Ribbon beer empire - previously popped up in all the property gossip columns in 2009 when he paid $18 million cash for the estate next door, the former Hefner family home that was sold by Hugh Hefner's second ex-wife, former Playboy Playmate Kimberly Conrad. The sale of the Playboy Mansion comes with the stipulation that Hefner, now 90 years old, remain in residence until his death - after which Metropoulos plans to combine the neighboring estates into a single 7. …

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