Hugh Hefner's Playboy Mansion is being sold for a "nine-digit sum" to his neighbor, sources said Tuesday.

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Playboy has reportedly sold the property to Daren Metropoulos, the son of billionaire investor C. Dean Metropoulos. As part of the deal, Hefner, 90, will be allowed live in the mansion for the rest of his life.

Built in 1927, the Gothic Tudor-style estate is on five acres and is nearly 20,000 square feet with 29 rooms, including chef's and catering kitchens, a game room, a wine cellar, a screening room with a pipe organ and a two-story master suite.

The property also comes with a zoo license for Hefner's collection of exotic birds and monkeys.

Playboy acquired the property in 1971 for about $1.1 million.

"The heritage of this property transcends its celebrity, and to have the opportunity to serve as its steward would be a true privilege," Metropoulos said.

Metropoulos is the former co-chief executive of Pabst Brewing Company and said he will ultimately unite his home next door with the Playboy mansion as one property.