Hugh Hefner has dropped the $110 million sale of his Playboy Mansion to his young billionaire neighbor Daren Metropoulos because the media mogul was not ready to compromise on his privacy, TMZ reported Friday.

As per the deal, 90-year-old Hefner was to spend the rest of his life in the 29-room mansion — owned by Playboy Enterprises — before any sort of renovations were made to the property. However, the 32-year-old co-owner of Twinkie asked for immediate access while Hefner is still alive, TMZ reported, adding that Playboy felt Metropoulos was being “unreasonable.” After debating for weeks, the deal fell through Thursday night and the house will be back on the market Monday, the report added.

However, the Metropoulos side had a different to story tell. A representative for the family said the sale of the 21,987-square-feet property is “moving forward as planned.”

“Gossip reports suggesting the deal has fallen apart are simply untrue. Concluding this complicated transaction is clearly in the interest of the sellers as well as Mr. Metropoulos, who has worked to respect Mr. Hefner’s wishes in this unusual situation, as both a neighbor and friend, and continues to look forward to serving as the next steward of this iconic property,” the representative said.

The mansion, which has been the venue of several Playboy parties — was built in 1927 by architect Arthur Rolland Kelly. Hefner bought the property in 1971 for a little over $1 million. The mansion boasts 12 bedrooms, a wine cellar, home theater, separate game house, gym, tennis court, a swimming pool, a grotto, a pet cemetery and an official zoo license.

Metropoulos’ current home was also bought from Hefner in 2009 for $18 million.