Boston

THE Playboy Mansion is under contract for more than US$100 million. The buyer: a 32-year-old son of a billionaire who already owns the property next door.

Daren Metropoulos, principal at investment firm Metropoulos & Co and co-owner of Hostess Brands, has agreed to buy the Holmby Hills, California, estate where Playboy founder Hugh Hefner will continue to live, Mr Metropoulos' representative said.