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Hugh Hefner’s Playboy Mansion off the market after billionaire neighbor purchased property for over $200 million

| Jun 07, 2016 01:27 AM EDT

Hugh Hefner's Playboy mansion is now owned by a billionaire residing next to the Playboy founder after purchasing it for $200 million.

Hugh Hefner's Playboy mansion is officially off the market after the billionaire Twinkies owner, Daren Metropoulos agreed to buy the property for more than $200 million. Metropoulos plans to conjoin his property to Hefner's playboy mansion to create a 7.3-acre compound.

The notorious home of the celebrity pornographer was an addition to Metropoulos' collection of properties in Los Angeles, according to The Guardian. The young billionaire is presently living in a $18-million mansion next to Hefner's Playboy mansion.

"We can confirm that the Playboy Mansion is in escrow with Daren Metropoulos as the buyer," the publication quoted the Playboy Enterprises spokesman as saying. "Due to confidentiality restrictions, we are not able to comment on any specifics, including what contingencies need to be cleared to close the sale."

Although Metropoulos could claim Hefner's Playboy mansion as his own, he could not move there until the Playboy magazine founder dies. Hefner is now 90 years old.

The mansion was put up for sale earlier this year after the magazine suffered tremendous sales loss as online pornography emerges. That time, Playboy's chief executive Scott Flanders promised that Hefner would not be asked to give up the mansion until he passes away.

It was home to Hefner for the past 40 years and it would be his home even it would be sold. Hefner's Playboy mansion was one of the most celebrated homes where famous people party and party with scantily-clad Playboy bunnies.

The new owner of the Playboy mansion is the principal at the private equity firm Metropoulos & Co. It is also the same company that owns Twinkies-maker Hostess Brand. Metropoulos is not new to the popular mansion as he and his sibling Evan hosted a party there in 2013 with rapper Snoop Dog.

There are a number of stories that were left as rumors at the Playboy mansion. John Lennon reportedly placed a cigarette on a Matisse when he was separated from his wife Yoko Ono. Blueprints of the mansion showing a secret tunnel leading to the homes of Jack Nicholson and Kirk Douglas also surfaced in March 2015.

Young women who lived in the mansion whom Hefner got involved were paid $1,000 a week allowance in 2011. They were also held to a curfew until 9 p.m.

 Hefner's Playboy Mansion was acquired by the Playboy Enterprises in 1971 for just over a million dollar. It covers a 20,000 square foot residence which is perfect for ultra-private retreat and large scale entertaining, E! News reported.

The property boasts 29 rooms, four-bedroom guest house, a home theater, a wine cellar, gym, tennis court and a swimming pool. It also has its own pet cemetery and an official zoo license.

Check out more details of Hefner's Playboy mansion:

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