The Playboy Mansion has officially been sold.
The Holmby Hills estate - owned by Playboy Enterprises - has been bought from Hugh Hefner by Daren Metropoulos, who lives next door to the property.
Mr. Metropoulos, co-owner of the Hostess brand, told Entertainment Tonight: "The Playboy Mansion is one of the most iconic properties in the world and the crown jewel of Holmby Hills and the platinum triangle.
"For the last 45 years, Mr. Hefner has imbued the estate with a rich and storied legacy. The property's heritage is not only that of a famous address; it is a true masterpiece in design, constructed by a noted architect for a family who played an important role in the development of Los Angeles in the early 20th Century."
Hugh had put the estate on the market for $200 million but it sold for $100 million and it was previously reported that the buyer has agreed to allow the 90-year-old media mogul to remain in the property until he dies.
Daren, 33, whose father is billionaire C. Dean Metropoulos, bought the home next door to the Playboy mansion in Los Angeles for $18 million in 2009 and plans to combine the two estates.
He said: "I feel fortunate and privileged to now own a one-of-a-kind piece of history and art. I look forward to eventually rejoining the two estates and enjoying this beautiful property as my private residence for years to come."
The Playboy Mansion estate has 22 rooms including a wine cellar, a screening room, a games room, a tennis and basketball court, a waterfall and a swimming pool area.
It also houses the Playboy magazine offices in a separate wing.
The 21,987-square-foot Gothic-Tudor style home, sits on 5.3 acres and was designed by Arthur R. Kelly in 1927.
Hugh currently lives in the Los Angeles mansion with his wife Crystal Harris, 30.