LOS ANGELES—The heir apparent of the Pabst Blue Ribbon and Hostess Brands empire closed escrow today on the Playboy Mansion, according to celebrity gossip site TMZ.
Billionaire investor Daren Metropoulos, son to private equity mogul C. Dean Metropoulos, made off with the iconic property for a cool $100 million, TMZ reports—knocked down a decent chunk from the original price of $110 million he almost closed on a week ago last Friday, when the transaction hit a snag.
Playboy founder Hugh Hefner, who is 90, reportedly wished to remain in the mansion until he dies without allowing Metropoulos the extensive access he sought to the property while Hefner is still there. The two parties came to terms, TMZ indicated, once the lower purchase price was on the table.
Metropoulos has lived on the property next door to the Playboy Mansion since 2009, and plans to merge the two estates once Hefner is gone. While Hefner is getting his wishes to stay put with minimal intrusion from Metropoulos, the new owner does get approval authority on all Mansion parties going forward. TMZ says he's already given the green light to next Saturday's Midsummer Night's Dream Party and the annual Halloween bash.
