Larry Flynt has announced that he is willing to buy and turn the Playboy Mansion into the Hustler Mansion. While many see this statement from Hustler as taking advantage of all the media attention the listing has been getting, a debate has been sparked as to how much buyers need to pay in order to cash in on its real market worth.
According to The Real Deal, the asking price of the mansion is $200 million and included in the listing is an agreement that its famous owner Hugh Heffner will not be evicted from the property until his death. Flynt's representatives say the price is too much for the 20,000-square-foot home that sits on 5 acres of land. Déjà vu's Harry Mohney who is in-charge of operating the Hustler Club said, "We are not going to offer half that much."
"Million Dollar Listing" celebrity real estate agent Josh Flagg agrees on Hustler's valuation of the property. According to the reality show star, $90 million would be the top number for such a listing. Flagg said he was able to sell a property adjacent to the Playboy Mansion just last year for $150 million and the famous home is dwarfed by its size. The house has 10 acres of real estate and doing the math based on the purchase price, the Playboy hub will only cost around $75 million. Add to that a cache value of $15 million and it would explain Flagg's valuation at $90 million.
In a report by Mail Online, Mohney confirmed that the Playboy Mansion sparked the interest of Flynt. He said the Hustler Magazine founder is toying with the idea of turning the mansion into The Hustler Mansion and The Hustler Club. Mohney said, "Larry and I have talked about it and are preparing a bid."
