Playboy Mansion Comes to Market for $200M

LOS ANGELES—The famed Playboy Mansion has come to market for $200 million. Principal agents Drew Fenton and Gary Gold of Hilton & Hyland and Mauricio Umansky of The Agency are handling the historic sale. The decision to sell is part of a company strategy, although agents noted the appreciating luxury housing market that makes this an ideal time to dispose of an asset like this.

"Playboy is a really dynamic company, and they have a lot of assets and value. They have just changed their magazine, and they are evolving," Gary Gold of Hilton and Hyland, tells GlobeSt.com. "Scott Flanders said that they were going to be reinvesting this into their company. This is a very valuable asset."

According to Scott Flanders, Playboy Enterprises CEO, the sale of the asset allows the company to reinvest in company and its evolving business strategy, but Gold adds that luxury real estate in Los Angeles and around the world is booming. "This property and any property in Los Angeles is worth more than it has ever been," he says. "The high-end market is really commanding premiums that we haven't seen in the past. That is the case in all of the primary markets in cities all over the world."

The Playboy Mansion is a 20,000-square-foot residence with 29 rooms, a catering kitchen, wine cellar, home theater, separate game house, gym, tennis court and freeform swimming pool with a large, cave-like grotto. The property also features a four-bedroom guesthouse and is one of the few properties in Los Angeles with a zoo license. "This property is on a really prestigious street, and this is the best lot on that street," says Gold. "Besides being the Playboy Mansion, this is the most incredible property that you have ever seen."

To sell the property, the team will reach into its Rolodex of billionaires to procure a buyer. "This buyer is a billionaire, so we are definitely approaching all of those billionaires and all of those brokers who know them," explains Gold. "We are definitely going after one of the 2,800 billionaires in the world. It is most likely someone local or someone from the US, but there is a 15% chance that it is someone from outside of the US."

The property will continue to be Hugh Hefner's home and the "creative center" of the Playboy company even after the sale, according to the sales team.