The new owner? Hefner's next door neighbor, Daren Metropoulos, the former co-owner and co-CEO of Pabst Brewing Company and a co-owner of Hostess Brands.
As part of the deal, Hefner was allowed to remain in the home for the rest of his life. Hefner died in September 2017 at the age of 91. Take a look inside the mansion he made famous.
A picture of elegance
From the outside, the 22,000-square foot Holmby Hills home is the picture of elegance. For decades, however, the happenings within have been somewhat less stately.
Pools and grottos
"Its pools, its grottos. It's a pretty big property, a lot to maintain," said Greg Harris who specializes in Los Angeles's luxury real estate. "It's an entertainer's home."
This picture shows one of the many lavish parties for which the Playboy Mansion became known -- Hugh Hefner's annual Midsummer Night's Dream party in August 2013. These sorts of parties are deliberately calculated to keep the Playboy brand relevant and fresh in people's minds.
Lit up for Halloween
Here, the Playboy Mansion appears all decked out for its annual Halloween bash on Oct. 26, 2013.
Hefner and Playboy bunnies
Over the past four decades, Hugh Hefner crafted the Playboy Mansion into a sort of Disneyland for adults, where every sort of pleasure is within reach. His own relationships with numerous live-in Playboy bunnies, two of whom are seen here, are an integral part of that concept.
The screening room
Here, the Playboy Mansion is set up for a special movie night hosted by Porsche and Playboy on Aug. 22, 2013.
Hugh Hefner's lair
Playboy Magazine publisher Hugh Hefner conducts a press conference on an animal print couch in his home to introduce the new season of his E! TV show "Girls of the Playboy Mansion" on Jan. 11, 2007.
Dancers at Playboy Mansion
Acrobatic dancers perform over the guests at the Playboy Mansion's annual Midsummer Night's Dream party hosted by Hugh Hefner in Los Angeles, California, Aug. 1, 2015.
Playboy Playmate luncheon
A general view of the atmosphere at Playboy's 2013 Playmate Of The Year Luncheon Honoring Raquel Pomplun at The Playboy Mansion, May 9, 2013.
In this Oct. 13, 2011 photo, Playboy founder Hugh Hefner poses in the library of his Holmby Hills mansion.
Here, the expansive jacuzzi at the Playboy Mansion is seen on Jan. 11, 2007 -- one of the rare times it's ever pictured without crowds of partygoers in its waters.
Inside the Playboy Mansion
The Playboy Mansion has a game room, a zoo, an aviary, a grotto, a tennis court, a wine cellar, a basketball court, and a screening room with a built-in pipe organ.
Here, Playboy founder Hugh Hefner poses outside of his screening room between two posters for one of his favorite movies, "Casablanca."
"Playboy's best investment"
According to Playboy lore, Hefner's then-girlfriend Barbi Benton discovered the 5.7-acre estate on which the Playboy Mansion sits. When Playboy acquired it in 1971 for $1.1 million, it was the largest residential real estate deal in Los Angeles history.
"This was Playboy's best investment," Hefner told CBS News in 2008.
Hefner helped design it
The L.A. mansion is also an architectural marvel. Playboy's official literature notes that Hefner designed it with architect Ron Dirsmith, a fellow in architecture at the American Academy in Rome and New York's National Academy of Design. Within two years, Hefner had completed his Shangri-La.
22,000 square feet
With 30 rooms and nearly 22,000 square feet, the Playboy Mansion necessitates nearly 80 full-time staff, including butlers, security personnel, electricians, plumbers, landscapers, zoo staff, and an executive chef.
Though the house appraised for about $35 million before its 2016 sale, real estate experts believe it has an added historical value, like that of Graceland or Michael Jackson's Neverland Ranch.
"There has always been a fascination with the life behind the mansion," Hefner told CBS News in 2008.
Here, Hefner reads from his notes before a screening of "Bonnie and Clyde" at the Playboy Mansion in June 2004.
Hugh Hefner and friends
Hefner poses with Kendra Wilkinson, Bridget Marquardt and Holly Madison before a movie screening at the Playboy Mansion.
Midsummer Night's Dream party 2013
Guests attend Hefner's annual Midsummer Night's Dream party held at the Playboy Mansion in August 2013.
Midsummer Night's Dream party 2014
Guests attend the annual Midsummer Night's Dream party at the Playboy Mansion hosted by Hugh Hefner in August 2014.
Midsummer Night's Dream party 2015
A model performs during the annual Midsummer Night's Dream party at the Playboy Mansion hosted by Hefner in August 2015.
Model Crystal Harris and Hugh Hefner ride a ferris wheel during the Playboy Mansion's annual Halloween party in October 2015.
HBO's "Entourage" used the Playboy mansion as a filming location. Here, party-goers attend an advance screening of "Entourage" at the Playboy Mansion in May 2015.
"American Playboy: The Hugh Hefner Story" premiere event
"American Playboy: The Hugh Hefner Story" premiered on Amazon in 2017.
The premiere event in April 2017 at the Playboy Mansion was as showy as the docudrama's subject.