The Crumbling Playboy Mansion Is On The Market For $200 Million Despite Its Need For Serious Renovation

The Hugh Hefner’s iconic Playboy Mansion is on the market for $200 million according to TMZ.  Since Hefner bought the Playboy Mansion in the early 1970s, it has become the ultimate party house for American hedonism. 

According to TMZ:

“Real estate sources with knowledge of the area say the owners are dreaming when it comes to price. They say the reality is … the house is a tear-down and the real value is the acreage and that a comparable lot sold recently in the area for $60 mil, but the sources say because of its history the Mansion could go for anywhere between $80 mil and $90 mil.

Our sources say they believe the people at Playboy Enterprises will come back down to reality and list the estate at a realistic number.

There are several strings attached. We’re told whoever buys it will be required to give Hugh Hefner a life estate, meaning he can continue to live in the mansion until he dies.”

The Playboy Empire Loses Its Glitter

Like Hefner’s Playboy magazine, the Playboy mansion has lost its glitter. The Playboy mansion’s legendary reputation as a party house with bikini-clad girls parading around the pool is in its past. The mansion which seems stuck in the 1980s needs serious renovating.

Stories from current and former Playboy Playmates say that 89-year old Hugh Hefner is too old and too frail to even consider getting the place back to its original glory. The Playmates claim there are now more nurses living in the mansion than models.

Former Playboy Playmate Izabella St. James wrote about the deteriorating conditions in her tell-all autobiography entitled Bunny Tales,

“Each ­bedroom had mismatched, random pieces of furniture. It was as if someone had gone to a charity shop and bought the basics for each room. The mattresses on our beds were ­disgusting – old, worn and stained. The sheets were past their best, too” 

St. James claims that Hefner isn’t one to mind filthy things. The former Bunny said that the carpets in the mansion reek of urine and mess from the multiple dogs that run loose in the Playboy Mansion.

She writes, “Everything in the Mansion felt old and stale, and Archie the house dog would regularly relieve himself on the hallway curtains, adding a powerful whiff of urine to the general scent of decay,” 

Hugh Heffner The Eccentric Millionaire

Hefner often described as an “eccentric millionaire.”

He bought the Gothic/Tudor 14,217 square foot mansion in 1971 for $1.1 million. Hefner turned it into one of the most coveted residences in Los Angeles.

Located on 5 acres of prime real estate in Los Angeles near UCLA, the 89-year old Playboy Mansion has seven huge bedrooms and eight baths. The mansion also includes a media room, game room, and wine cellar.

Outside, the grounds has three zoo and aviary buildings, a pet cemetery, tennis court,