Daren Metropoulos, son of Greek-American billionaire investor Dean Metropoulos and owner of the Playboy mansion, has made headlines by purchasing a historic beachfront mansion in Palm Beach, Florida, for a whopping $148 million. The 40-year-old investor paid cash for this impressive estate, adding to his collection of luxury properties.
About the Palm Beach Mansion
The mansion, known as Casa Amado, is a significant piece of Palm Beach's architectural history. Designed by renowned architect Addison Mizner around 1919, the Mediterranean Revival-style home boasts approximately 23,000 square feet (2,136 square meters) of living space on a sprawling 3.2-acre (13,000 square meters) plot. It features 10 bedrooms, a gym, a cinema room, a swimming pool, a tennis court, and 225 feet (67 meters) of Atlantic Ocean frontage.
Originally built for businessman Charles A. Munn, the mansion was later owned by Canadian businessman William Pencer, who bought it with his wife in 2003 for $12.1 million. The Pencers invested years in renovating the property, but in 2007, it was damaged by a fire caused by a lightning strike. The mansion was subsequently restored around 2008.
Daren Metropoulos: The Man Behind the Purchase
Daren Metropoulos is a principal at his father’s private equity firm, Metropoulos & Co., which has invested in well-known brands like Hostess, Pabst Brewing, and Utz. Daren co-owns BlueTriton Brands, a leading bottled water company.
Described by the Wall Street Journal as “an avid collector of luxury homes in New York, Miami Beach, Hawaii and Martha’s Vineyard”, in 2016, Daren bought the iconic Playboy Mansion in Los Angeles for $100 million, a record-setting price at the time. The mansion, famous for its lavish parties hosted by Hugh Hefner, has since been extensively renovated by Daren. He was an Associate Producer on Quentin Tarantino’s "Once Upon a Time in Hollywood," with several scenes shot at the mansion.
Dean Metropoulos: A Legacy of Business Acumen
Dean Metropoulos, Daren's father, is a Greek-American billionaire with a storied career in investing and transforming brands. Born in Tripoli, Greece, in May 1946, Dean emigrated to the United States with his parents at the age of ten, settling in Watertown, Massachusetts. He earned a bachelor's degree and an MBA from Babson College in Wellesley, Massachusetts.
Dean's career began at GTE International (now Verizon) in Europe, where he became the youngest controller of the company's European, Middle Eastern, and African operations. His first major acquisition was Stella Foods Inc. in 1981, which he sold for $375 million. Over the years, Dean has been involved in numerous successful buy-build private equity transactions, including Pinnacle Foods, Ghirardelli Chocolate Company, International Home Foods, Pabst Brewing Company, Bumble Bee Foods, and Hostess Brands.
Dean Metropoulos is the executive chairman and CEO of C. Dean Metropoulos & Company, founded in 1993 and based in Greenwich, Connecticut. The firm has been involved in over 72 acquisitions with more than $12 billion in invested capital. Notably, in 2021, Metropoulos & Co. and One Rock Capital Partners acquired Nestlé's North American bottled water brands for $4.3 billion.
Dean lives in Palm Beach, Florida, with his wife Marianne, who was President and Principal of Aegean Entertainment, a movie production company in Beverly Hills. They have two sons, Evan and Daren.
The Palm Beach Real Estate Boom
Palm Beach real estate has seen a significant surge in prices recently. The area has become a hotspot for wealthy buyers looking for luxury properties. The record for the highest property sale in Palm Beach was set last year when a car dealership owner paid $170 million for an estate on North County Road.
Daren’s purchase of Casa Amado provides further evidence of the escalating demand for prime real estate in this exclusive area. In a statement to a US newspaper, Daren expressed his delight in preserving the mansion’s historical charm and elegance, describing it as “Palm Beach’s most historic architectural treasures.”
“I am delighted to continue the tradition of preserving this jewel and ensuring that its classic charm and elegance continue to endure,” he says.
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