Here’s what will happen to the Playboy Mansion now that Hugh Hefner has died

Hugh Hefner lived in the home until he died at 91.

Hugh Hefner lived in the home until he died at 91.
Dan Kitwood/Getty Images

Hugh Hefner, founder of Playboy magazine and longtime tenant of its namesake house, has died at 91.

The famous 20,000-square-foot Holmby Hills estate that he inhabited for more than 40 years will soon enter a new phase under different ownership.

The Playboy Mansion sold for $100 million in 2016. Though that’s certainly a high number, it was merely half of the asking price that had made it the most expensive for-sale house in America for much of 2016.

The house was sold to its next-door neighbor, Daren Metropoulos, a principal of the private-equity firm Metropoulos & Co. and a former co-CEO of Pabst Brewing Company.

The home was never technically owned by Hefner. Playboy Enterprises bought the mansion for just over $1 million 45 years ago and leased it back to him. He reportedly paid just $100 a year to live there under the arrangement.

Hefner did, however, have life rights to the property – as a stipulation in the sale, he could live there for as long as he wanted, though he would pay $1 million a year to do so.

Metropoulos said at the time of the sale that he intended to connect the Playboy Mansion and his adjoining property, which he bought in 2009 for $18 million.

Following Hefner’s death, Metropoulos released a statement: “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. I was fortunate to know him as a neighbor and friend and I extend my deepest sympathies to his family.”