The sale of the Playboy Mansion to next door neighbor Daren Metropoulos has closed for $100 million, according to a spokesperson for Mr. Metropoulos.
The Holmby Hills home was listed for $200 million. Playboy Enterprises founder Hugh Hefner will continue to occupy the Mansion for his lifetime.
Mr. Metropoulos, a 33-year-old principal at private-equity firm Metropoulos & Co. and a current co-owner of Hostess Brands, owns the adjacent property and has restored it. The spokesperson said he intends to connect the two estates after Mr. Hefner's tenancy ends, creating a 7.3-acre compound. "I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residence for years to come," he said in a statement.
The mansion, purchased by Playboy Enterprises in 1971 for $1.05 million, is Mr. Hefner's longtime home and is famous for its parties. Mr. Metropoulos bought the house next door, which had been used by Mr. Hefner's former wife to raise their two children, from Mr. Hefner in 2009 for $18 million.
Built in the 1920s, the roughly 20,000-square-foot Playboy mansion has 29 rooms on 5 acres, according to the listing. It is one of the few private residences in Los Angeles with a zoo license, the listing says. Mr. Hefner added a heated swimming pool and a grotto in the 1970s.
The listing agents were Mauricio Umansky of the Agency and Gary Gold and Drew Fenton of Hilton & Hyland. Jade Mills of Coldwell Banker Previews International represented Mr. Metropoulos.
Playboy Enterprises couldn't immediately be reached for comment.