For the first time in over 40 years, the legendary Playboy Mansion, located on Charing Cross Road outside of Beverly Hills, is on the market. Built in the Golden Age of Hollywood, it is one of the few estates that has remained intact, staying true to its original formation. With its beautiful, yet unique H-shape, it is not surprising that this remarkable English Tudor style home has only been sold twice since its construction in the 1920’s.
Built for Broadway department store icon Arthur Letts, the magnificent estate was an illustration of the vision that Letts had for a new neighborhood to the west of Beverly Hills. Letts, who at the time was president of the Holmby Corporation, moved to the area after selling his father’s business in Hancock Park. He knew he needed to show potential investors that this new development would grow and exceed expectations, and to do that, he must build something extravagant. In essence, it was in that moment the foundation for the Holmby Hills community was formed.
Letts hired architect Arthur R. Kelly to design the 14,000 square foot house. Kelly let his creativity flourish when he choose to rearrange the layout of the home from the conventional house model to a more asymmetrical outline. While the design of the home itself was extraordinary, the Grand Hall was the interior’s masterpiece. The two-story room was lavishly decorated with solid oak paneling, marble floors and a richly carved double staircase.
In 1961, The Letts’ home was purchased by scientist and industrialist, Louis Statham. Statham was known for his inventions of rockets and satellites that aided space exploration as well as inventing life-saving medical devices. Louis and his wife Anne bought the home for a mere $110,200 and promptly renamed the home “The Statham House.”
In 1971, Playboy Enterprises bought the Statham House for a record breaking $1.05 million. It was the highest real estate transaction in Los Angeles at that time. Initially called the Playboy Mansion West, it was the second “bachelor pad” to be established by Playboy, with the other one located in the prestigious Near North Side in Chicago. Playboy eventually left behind their Chicago roots and turned their Holmby Hills manor into the Playboy headquarters.
For over 4 decades, Playboy mogul Hugh Hefner has called the Playboy Mansion home, both working and playing in the now 29,000 square foot residential space and 5 acres of pristine landscape. The Playboy Mansion has 29 rooms, including a wine cellar with a secret entranceway, a theater room with a built-in organ and a full gymnasium.
In addition to the amazing features of the home itself, throughout the grounds there is also a game house with the customary pool tables, pinball machines and Wurlitzer jukebox, a four-bed, two-bath guesthouse and of course, the famous swimming pool with an underground grotto built by Playboy after their purchase of the home. The Playboy estate is also one of the few private residences in Los Angeles that has a zoo license, and is called home by many exotic birds, monkeys, flamingoes and peacocks.
The Playboy Mansion is being sold by Hilton & Hyland, an affiliate of Christie’s International Real Estate. If sold for the asking price, an incredible $200 million, it will once again be the largest transaction in Los Angeles history.