The Playboy Mansion Is For Sale For $200 Million — But There’s A Catch

Playboy's 2015 Playmate Of The Year Announcement Ceremony At The Playboy Mansion

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Every Bro dreams of visiting and partying at the Playboy Mansion, Hugh Hefner’s iconic home in the Holmby Hills. But how about owning it?

It’s not completely out of reality. According to TMZ, Hef has put the six acre home — built in 1927 — “up for sale.” Playboy Enterprises, the holding company that owns the home, is looking to get more than $200 million for the home. And it comes with a tenant — Hugh Hefner, 89, gets rights to live in the mansion of his namesake until he dies.

Pump the brakes for a second on what $200 million is actually buying you, though. Back in October, former Playmate Carla Howe (also: Mario Balotelli’s girlfriend) wrote a tell-all bashing the state of the legendary estate:

The Berkshire-born beauty describes the residence as looking and feeling worn-out, with old phones that hang on the walls, bedrooms that smell damp and feel ‘cold and unused’.

Then again, oh if those walls could talk.

But it’d take tens of millions of dollars to modernize the property. The real value is in the land for potential real estate development. It’s currently used like crazy for Hollywood events — Entourage threw an advanced screening party there June 2015 (…that it looks like Dan Bilzerian was at, natch). Back in October I did a Hollywood Hills star home tour (I know… I’m a dumb tourist… I don’t care). My guide said that developers are chomping at the bit to buy the property at a huge premium and parcel up the six-acre estate. TMZ basically confirms this:

Real estate sources with knowledge of the area say the owners are dreaming when it comes to price. They say the reality is … the house is a tear-down and the real value is the acreage and that a comparable lot sold recently in the area for $60 mil, but the sources say because of its history the Mansion could go for anywhere between $80 mil and $90 mil.

Our sources say they believe the people at Playboy Enterprises will come back down to reality and list the estate at a realistic number.

If you are interested in buying, here’s a tour Hugh’s 24-year-old son, Cooper Hefner, gave Business Insider last year.