The famous estate has been sold to Daren Metropoulos, who owns Twinkies-maker Hostess Brands. As part of the deal, Daren has agreed to let the 90-year-old Hugh Hefner live on the 20,000-square-foot Holmby Hills spread for the rest of his life.

The house was listed for $200 million, but Variety says it sold for “around $120 million.”

Daren won’t have to move far. In 2009, he bought the house next door to the Playboy mansion for $18 million. (USA Today)(Premiere Prep)