Playboy Mansion Owner Strikes Deal to Preserve Historic Estate

The new owner of the Playboy Mansion has struck a deal with the Los Angeles city council to preserve the historic estate.

Paul Koretz, a member of the L.A. city council, originally had moved for the estate to receive landmark status, which would have required the Cultural Historical Commission to survey the land and then submit its judgement and findings to the council.

Daren Metropoulos, the current owner of the Playboy Mansion, came to an agreement with Koretz that will see the property receive a “permanent protection covenant,” which allows for Metropoulos to make some changes to the estate as long as he does not tear down the main house.

Additionally, THR reports that the protection covenant will remain active even in the event of other future owners.

“I’m extremely passionate about its architecture and look forward to this momentous opportunity to transform one of the finest estates in the country. As Mr. Hefner was aware, I plan to meticulously refurbish the property with the highest quality and standards in mind,” Metropoulos said in a statement.

“I want to thank Councilman Koretz for working with me to develop an understanding of my vision to restore the mansion while modernizing and replacing important mechanical systems in the structure,” he added.

Metropoulos bought the mansion in August of 2016 for $100 million. It had initially been put on the market in January of that same year for $200 million. Playboy founder Hugh Hefner died just over one year after the sale of the mansion.

A recent report revealed that Hefner included a stipulation in his will that none of his benefactors will receive their inheritance if they are reckless with their money or if they fall victim to substance abuse.

Hefner left behind four children (Christie, David, Marston and Cooper) and a wife (Crystal) when he died, but noted in his will that if any of them becomes dependant on drugs or alcohol, or is found to be spending their fortune unwisely by his estate trustees, then they will be cut off.

They can have their inheritance reinstated if they prove they can go 12-months sober or without any infractions, according to the Daily Mail.

“If the Trustees reasonably believe that as a result the beneficiary is unable to care for himself or herself, or is unable to manage his or her financial affairs, all mandatory distributions… to the beneficiary… will be suspended,” the legal documents read.

“[Rights to the trust may be restored] in the case of use or consumption of an illegal substance, examinations indicate no such use for 12 months and, in all cases, when the Trustees in their discretion determine that the beneficiary is able to care for himself or herself and is able to manage his or her financial affairs,” they further explain.

Hefner died on Sept. 27, 2018, and his estate is estimated to be worth around $43 million, which seems like a surprisingly low number considering that in October of 2017 Town and Country reported that his Hustler competitor Larry Flint has a net-worth estimated to be around $500 million.

After his passing, it was announced that the business mogul died of heart failure after apparently contracting a very aggressive strain of e-coli that is said to be resistant to drugs.