Hugh Hefner Sells At A Deep Discount

I mentioned briefly before that Hugh Hefner and his wife Kimberley sold her house next to the Playboy mansion in Holmby Hills, California but I neglected to mention the fact that is sold for $10 million below the list price of $27.995 million. The LA Times Hot Property column reported that the home, which hit the market in March, sold for $18 million. The 7,300-square-foot English Manor-style house was built in 1929 and has five bedrooms and seven bathrooms. The home is behind private gates on 2.3 flat acres that back up to the Los Angeles Country Club and the grounds include a swimming pool.

The Hefners bought the home in 1996 for Kimberley Hefner to live in with their two sons. It was then listed then at $17.25 million so if Hefner bought anywhere close to list price back then he isn't making too much on this deal. But the aging magazine tycoon's lavish lifestyle has been straining the budget of the Playboy empire and so the sale might have been a matter of some urgency.

[Thanks, Charles! via Listed]