The new owner Daren Metropoulos has allowed Hugh Hefner to live in the Playboy Mansion till he lives.
The Playboy Mansion has officially been sold for USD 100 million to Daren Metropoulos who lives next door to the property.
Hugh Hefner, the owner of Playboy Mansion, had put the estate on the market for USD 200 million but it sold for USD 100 million and it was previously reported that the buyer has agreed to allow the 90-year-old media mogul to remain in the property until he dies, reported Entertainment Tonight.
"The Playboy Mansion is one of the most iconic properties in the world and the crown jewel of Holmby Hills and the platinum triangle," Metropoulos said.
"For the last 45 years, Mr Hefner has imbued the estate with a rich and storied legacy. The property's heritage is not only that of a famous address; it is a true masterpiece in design, constructed by a noted architect for a family who played an important role in the development of Los Angeles in the early 20th Century."
Metropoulos, 33, whose father is billionaire C Dean Metropoulos, bought the home next door to the Playboy mansion in Los Angeles for USD 18 million in 2009 and plans to combine the two estates.
"I feel fortunate and privileged to now own a one-of-a-kind piece of history and art. I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residence for years to come."
The Playboy Mansion estate has 22 rooms including a wine cellar, a screening room, a games room, a tennis and basketball court, a waterfall and a swimming pool area. It also houses the Playboy magazine offices in a separate wing.
The 21,987-square-foot Gothic-Tudor style home, sits on 5.3 acres and was designed by Arthur R Kelly in 1927. Hefner currently lives in the Los Angeles mansion with his wife Crystal Harris, 30.