Damn, I knew the housing bubble was back. Hugh Hefner, via Playboy Enterprises, is putting the Playboy Mansion on the market. For a cool $200 million.
Let’s get all real estate ad on it. 5 acres with 29 rooms, home theater, wine cellar, a game house and a pool that could probably use one hell of a cleaning. Oh, and an old white guy. The creepy old dude staring at young women sells it, right?
The condition of the sale is that Playboy Magazine’s founder gets to live out his days on the grounds. At least, you won’t have to organize the parties. Take the glass is half full approach.
Listing the Playboy Mansion comes as the company is trying to pivot to the digital age. Yep, you’re about a decade too late but whatever. Circulation has dropped on the print side, and Playboy recently announced they would stop publishing naked photos in its U.S. print edition.
That move followed a decision in 2014 to remove full nudity from its website in 2014. Scott Flanders, Playboy CEO, hopes the sale will allow the company to “reinvest in the transformation of our business.” And keep Hugh from looking for new accommodations.
“The Playboy Mansion has been a creative center for Hef as his residence and workplace for the past 40 years, as it will continue to be if the property is sold.”
Right… $200 million and you get to keep the old guy living there. Oh, it also has a zoo license. Not sure how that drives up the price, but it’s a rare thing to have in the Los Angeles area.
Will it sell for $200 million? Never underestimate the stupidity of the ultra-wealthy. I’m not sure ServPro is this good at cleaning, but hey, it might make for a cool Super Bowl commercial.
The reality is most observers see the house coming down to a more ‘reasonable’ $80-90 million. Nice. Perfect price range for when I win the Powerball. Billionaire, rundown Playboy Mansion and an old guy?
What’s not to love? Those poor HGTV people would be horrified.
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