For a cool $200 million, you can own a piece of Hollywood history and live with a legend.

The Playboy Mansion is officially on the market, it was announced on Monday, although the deal stipulates Hugh Hefner will continue to live on the iconic property until his death.

WATCH: What Holly Madison Wants to Teach Her Daughter About Playboy 

"This is the right time to seek a buyer for this incredible property who understands the role the Mansion has played for our brand and enables us to continue to reinvest in the transformation of our business," Playboy Enterprises CEO Scott Flanders said in a statement. "The Playboy Mansion has been a creative center for Hef as his residence and workplace for the past 40 years, as it will continue to be if the property is sold."

The "crown jewel of L.A.'s 'Platinum Triangle,'" as it’s dubbed in the statement, sits on five acres in Holmby Hills. The nearly 20,000 square foot mansion includes 29 rooms, a catering kitchen, wine cellar, home theater, separate game house, gym, tennis court and a freeform swimming pool -- not to mention that infamous grotto.

WATCH: Pamela Anderson Spills Secrets on Her Final Nude Shoot at the Playboy Mansion 

"At the time Hef and Playboy purchased the home, it was the largest real estate transaction in Los Angeles history," said Gary Gold of Beverly Hills real estate agency Hilton & Hyland. "Today, we hope to make the same history with the property and its sprawling acreage, neighboring the Los Angeles Country Club.”

The listing comes just one month after the storied magazine published its last-ever nude issue. Pamela Andersongraced the cover and told ET that she was shocked to learn of the re-branding decision.

"I was like, 'What? Are you serious?' But then I thought that's probably a good thing," Anderson explained. "It's hard to compete with the Internet. And the girl next door doesn't exist anymore. She's taking selfies down her shirt, like, you know, there's no mystery over there anymore. It doesn't have that same charm and innocence that it used to."

But Anderson still made the most of her final nude photo shoot at the mansion.

"I took off all my clothes, and I rolled down the hill as fast as I can," she told ET. "I was just screaming, and hair and boobs were flying, and shoes were going everywhere."

(Again -- for $200 million, you can own that very hill.)

See more from Anderson's interview in the player below.