Charley Gallay
Mike Pomranz
June 22, 2017

For decades, young men with raging libidos dreamed of visiting the Playboy Mansion. In the near future, the extravagant property may appeal more to little kids with a raging sweet tooth.

Earlier this week, Daren Metropoulos – a principal at Metropoulos & Co, the private-equity firm that owns Hostess – was revealed to be under contract to purchase the Los Angeles property that Hugh Hefner and his wild parties made famous. Hefner is familiar with Metropoulos for more than just his family’s vast fortune and business acumen: The two are already neighbors. Hefner sold him the house next door in 2009 for $18 million.

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This more recent purchase will set Metropoulos back a bit more. Though the official sale price wasn’t disclosed, the asking price for the storied mansion and the roughly 20,000-square-foot property it sits on was $200 million. According to the Wall Street Journal, the house – which is in the Holmby Hills neighborhood of Los Angeles – sold for “nine digits,” setting a record as the most expensive residential sale in city history.

Unfortunately, the bachelor playground that includes over-the-top amenities like its notorious grotto and a zoo license won’t be turned into any sort of Hostess theme park where guests can take a swim and eat some Twinkies. Instead, Metropoulos plans to connect the property with the estate he already owns next door to create a 7.3-acre compound. As you may recall, Metropoulos’s firm purchased Hostess back in 2013 after the company filed for bankruptcy. Sounds like that turnaround is going pretty well, huh?

Regardless, it may be some time until Metropoulos officially takes the mansion over. Part of the sale agreement includes a deal allowing Hugh Hefner, who is currently 90, to live in the house until he passes away. It’s a pretty sweet deal for Hef – though I probably would have held out for a lifetime supply of Ding Dongs as well. That’s not a penis joke, by the way, but it probably should have been.

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