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Playboy Era Grinds to Close: Hef’s Notorious LA Mansion For Sale

The Playboy mansion in Los Angeles is reportedly about to hit the market as Huge Hefner winds down his once expansive empire. (Photo: Google Earth)

The Playboy mansion in Los Angeles is reportedly about to hit the market as Huge Hefner winds down his once expansive empire. (Photo: Google Earth)

Playboy is giving up one of the last symbols of the hedonistic lifestyle it championed for six decades. Huge Hefner’s notorious Playboy mansion in Los Angeles is about to hit the market–with on catch. The new owner must be willing to deal with Hef’s corpse.

The six-acre property, complete with the infamous grotto pool, will reportedly be listed sometime in February, according to TMZ.

Related: Playboy to Stop Publishing Bare Lady Bits; Has Hell Finally Frozen Over?

Hef apparently is trying to catch the spring selling season, but is he really serious about the asking price? According to the gossip site, Playboy will ask in the neighborhood of $200 million for the storied Holmby Hills estate.

The most expensive home on the Los Angeles market right now, at 864 Stradella Rd, in tony Bel Air, is selling for $50 million, according to real estate site Zillow. It’s 14,219 square foot, seven bedroom and 12 bath home on just under an acre.

But a developer is building a “mega-mansion” that reportedly will be worth $500 million. The developer is vying to build the most expensive home in the world, according to London’s Telegraph newspaper.

Related: Michelle Manhart, Air Force Fly Gal, Playboy Model, Busted in Flag Fight

It will make the Playboy look like a shotgun shack. The 100,000 square foot property will have five swimming pools, a casino, a nightclub with a VIP area and a lounge with jellyfish tanks instead of walls. All told, it will be twice the size of the White House.

Still Hefner’s mansion has history going for it.

It’s figured in the news lately as part of the Bill Cosby sex assault scandal. Lap dancer Chloe Goins claims Cosby drugged and assaulted her during a 2008 party. Cosby heatedly denies the allegations.

Related: Playboy’s Jenny McCarthy Reveals Life of Sex, Drugs, Debauchery

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The 21,987-square-foot, 29-room “Gothic-Tudor” style house was designed by architect Arthur R. Kelly in 1927 for Arthur Letts, Jr., son of Broadway department store founder Arthur Letts.

Playboy bought the mansion in 1971 from Louis D. Statham, an engineer, inventor and chess aficionado, for $1.1 million. In early 2011, the house was valued at $54 million, according to Bloomberg News Service.

Related: Crystal Harris Hits Playboy’s Hugh Hefner Below Belt (photos)

It’s condition is subject to debate. In 2010, Izabella St James one of a legion of bottle blondes who shared Hefner’s storied mansion, wrote a tell-all book describing the mansion as a decrepit “house of horrors.”

The Los Angeles real estate market has been on the upswing since then, and TMZ, citing sources, says the house is potentially worth $80 million to $90 million. It describes the property as a tear down (ouch!).

But the mansion won’t be going anywhere until Hefner, 88, dies. One of the sale stipulations allows him to live their until the new owner trips over his corpse, likely propped up in his opulent bedroom.

Related: Hugh Hefner’s Playboy Mansion Squalid House of Horror — Playmate

The iconic magazine, founded by Hefner in the 1950s, has been in slow decline for years, eclipsed by other publications and rampant online porn. It announced last October that it will stop publishing nude photos of women this year.

Hefner took the magazine company private after its publicly traded shares plummeted.

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