Got $200 Million? The Playboy Mansion Officially Goes Up for Sale – but Hugh Hefner Will Still Live There
updated 01/11/2016 AT 07:50 AM EST
•originally published 01/09/2016 AT 07:20 PM EST
The nearly 22,000-square-foot, 29-room home, which sits on more than 5 acres in Los Angeles' Holmby Hills neighborhood, and features "every amenity imaginable," according to a press release, including a catering kitchen, a separate game house and is one of the few private residences in L.A. with a zoo license.
"This is the right time to seek a buyer for this incredible property who understands the role the Mansion has played for our brand and enables us to continue to reinvest in the transformation of our business," Playboy Enterprises CEO, Scott Flanders said in a statement. "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."
A stipulation of any sale would require Hefner, 89, a life estate so that he can continue to live in the home.
The Playboy Mansion was built in 1927 and first purchased by the Playboy founder and Playboy Enterprises in 1971. Since the purchase, the mansion and its many features, including the grotto pool, became the site of his lavish, sometimes salacious, gatherings.
The mansion has also appeared in numerous TV shows and movies over the years, such as Sex and the City, The Apprentice and The House Bunny.
Playboy Enterprises, which owns the magazine and all related licensing, now rents the property to Hefner, and uses it for corporate events.
(And, yes, parties.)