The deal is done, and the Playboy Mansion has a new owner. Daren Metropoulos, who lives next door, said Tuesday that escrow has closed on his $100 million purchase of Hugh Hefner's man cave.
But the 33-year-old principal in investment firm Metropoulos & Co. won't necessarily be moving in any time soon.
Under terms of the deal, Playboy's 90-year-old founder may stay there for the rest of his life.
After Hefner leaves, Metropoulos plans to connect the 5-acre Playboy estate to his 2-acre home next door.
The homes, built in the 1920s, were originally one estate.
Hefner bought the Playboy Mansion for $1.05 million in 1971, quickly turning it into a sexual playground.
In its heyday, it was the scene of countless celebrity-filled parties and innumerable tales of sexual shenanigans.