It was confirmed on the 13th that the land on which the building is located and one apartment building owned by the company were jointly secured by a loan of approximately 9 billion won (approximately 975 million yen).
According to a copy of the court's registry released on the same day, Donghae purchased a building in his personal name on April 27th in the Seongsu-dong 2-ga area, which is comprised of one basement floor and four aboveground floors.
The remaining balance was paid in mid-July and the transfer of ownership was completed, but the largest claim amounted to 10.8 billion won (approximately 1.17 billion yen) in the root mortgage.
Considering that the maximum amount of claims is usually set at 120% of the loan amount, he borrowed money from a commercial bank using a high-priced apartment he owns in Seongdong-gu and the land of a building as joint collateral.
It is estimated that Donghae borrowed about 9 billion won to buy the building. The building that Donghae purchased has a land area of about 270 square meters (82 pyeong) and a total floor area of about 733 square meters (222 pyeong).
The land was sold for 146.71 million won (US$150,000) per 3.3 square meters. The building was completed in 1988 and is zoned as a semi-industrial area.
The building, which currently serves as both a shopping mall and a residence, is currently home to a restaurant and a shoe repair shop, some of which are rented out.
The building is located near Cafe Street, which is considered a hot commercial area in Seongsu, with many pop-up stores.
It is located in a station area, just a 5-minute walk from Seongsu Station on Line 2. Right in front of it is the apartment complex "Seoul Forest Hillstate," which is a residential complex and a food district with famous restaurants.
It has been less than six months since the building was traded, but analysts are already predicting a market profit of at least 2.5 billion won.
Looking at the sale of a small building in the neighborhood, the building directly opposite, which has one basement floor and three aboveground floors, was sold for 5.95 billion yen in May.
The property was traded for 10 million won (approximately 644.66 million yen), which was about 178.65 million won (approximately 19.36 million yen) per 3.3 square meters of land.
In addition, the building that Donghae acquired and the building with the first basement floor and two aboveground floors, which is about 100 meters away, are currently priced at 171 million yen per 3.3 square meters of land.
It is listed for sale at 430,000 won (approximately 18.57 million yen). Park Young-hoon, president of Ahn Real Estate Brokerage Co., Ltd., which brokers luxury residential and commercial real estate, said, "(Donghae) is a reasonable
"Even if we make a conservative estimate based on previous transactions involving nearby buildings, we expect the profit margin to be more than 2.5 billion won (approximately 270 million yen)," he said.
In addition, “If we look at the sales cases of the whole alley, we can see that it is in the same zoning area, but it is being traded for around 200 million won (approximately 21.67 million yen) per 3.3 square meters.
"There have been cases where the profit margin has been estimated at more than 4 billion won (approximately 433.38 million yen)," he said, adding, "If calculated based on the bid price, it would be even more than that."
2024/10/13 08:12 KST
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