One of Hollywood’s most iconic homes has been sold off. The Playboy Mansion, which has been on the market since January, has been sold for a whopping $100 million.

Despite the large selling price, Page Six is reporting that Daren Metropoulos, a principal at investment firm Metropoulos & Co. and the pad’s new owner, nabbed the abode for half of its original asking price. The official papers were signed on Tuesday (Aug. 16, 2016).

As a condition of sale, Playboy founder Hugh Hefner will be able to live in the mansion for the rest of his life, paying $1 million a year in rent. Renovations to the mansion cannot begin so as long as Hefner lives. Any statues and arcade games inside the house will also go to the new owner.

“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 says in a press release. “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 is also the owner of the residence next door. He plans on connecting the two properties together to create a 7.3-acre compound.

“I feel fortunate and privileged to now own a one-of-a kind piece of history and art,” he continues. “I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residences for years to come.”

Sitting at nearly 20,000 square feet, the Playboy Mansion boasts 29 rooms, a catering kitchen, a wine cellar, a home theater, a separate game house, a gym, a tennis court, and swimming pool complete with a large waterfall and cave-like grotto. The estate also features a four-bedroom guest house, a koi pond, a citrus orchard, and three on-site zoos.
Hefner bought the famous bachelor pad in 1971 for $1.1 million. Take a tour.

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