BUSINESS

Greek-American businessman snaps up legendary Playboy mansion

A Greek-American businessman, Daren Metropoulos, has purchased the dream-home of men the world over, the legendary Playboy mansion, US media reported on Monday.

The 1927 house was purchased by the adult-magazine publisher Hugh Hefner in 1971 and transformed into a world-famous celebrity playground. It went for “nine digits,” according to the Wall Street Journal, which quoted the president of luxury real estate firm Hilton & Hyland, Jeffrey Hyland, as saying that it would set a record for the highest-priced residential sale in Los Angeles. 

“The heritage of this property transcends its celebrity, and to have the opportunity to serve as its steward would be a true privilege,” Metropoulos, who owns the villa next door and is planning to join the two properties, told the WSJ, adding that he is more interested in preserving the mansion for its architectural pedigree.

The son of a Greek farmer, Daren Metropoulos is a principal at private-equity firm Metropoulos & Co and bought the property adjacent to the Playboy mansion in 2009.

In his late 60s, Metropoulos was on the cover of Forbes magazine’s May 2015 issue and is known for turning around battered businesses, particularly those in the food industry, most notably bringing the Twinkie’s snack company back to profit.

According to the WSJ, his contract allows him to take tenancy of the property only after the death of Hefner, 90, who will be allowed to remain in the home as long as he lives.
 

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