Earned Over 8 Billion KRW Profit Through 'Seubuk Jaetech'
Purchased Old Building, Remodeled, and Sold
Han Soo-min, a dermatologist and wife of comedian Park Myung-soo, purchased another Starbucks building after selling two Starbucks buildings for capital gains. On the 27th, News1 reported, "Han Soo-min purchased a building in Seogyo-dong, Mapo-gu, Seoul, for about 13.7 billion KRW in July 2021." Although the building was vacant at the time of purchase, it was previously occupied by Starbucks. In November of the same year, Han obtained ownership and took out a loan of about 10 billion KRW, acquiring the building under her personal name. After receiving reconstruction approval in January 2022, construction began in April and was completed with usage approval in October last year.
Han Soo-min, a dermatologist and wife of comedian Park Myung-soo, sold the 'Starbucks building' twice to make a profit from price differences and then purchased another Starbucks building. [Photo by Han Soo-min Instagram]
The existing building, which had one basement floor and two above-ground floors, was transformed into a new building with two basement floors and five above-ground floors. The site area is 395.7㎡ (approximately 119.7 pyeong), and the total floor area is 1234.4㎡ (approximately 373.4 pyeong). Some floors are currently leased, housing a dessert cafe and an entertainment office, among others. The building is located near Hongdaeipgu Station, in a place with excellent accessibility and visibility. Nearby buildings include one purchased by a company operated by star lecturer Kim Mi-kyung and another purchased by comedian Yang Se-hyung.
Increasing Building Value by Remodeling or Rebuilding and Leasing to Starbucks
Han’s real estate investment strategy mainly involves purchasing old buildings, remodeling or rebuilding them, and then leasing to Starbucks to increase the building’s value. In 2011, Han purchased an old building in Dongseon-dong, Seongbuk-gu, Seoul, for 2.9 billion KRW and sold it in July 2014 for 4.6 billion KRW, earning a capital gain of over 1 billion KRW. After remodeling, she successfully leased all floors to Starbucks.
Mr. Han's real estate investment strategy mainly involves purchasing old buildings, remodeling or reconstructing them, and then increasing the building's value by leasing space to Starbucks. In 2011, Mr. Han bought an old building located in Dongseon-dong, Seongbuk-gu, Seoul, for 2.9 billion KRW. Three years later, in July 2014, he sold it for 4.6 billion KRW, making a capital gain of over 1 billion KRW. After remodeling, he successfully secured Starbucks on every floor. [Photo by tvN 'Freehan Doctor']
Next, in October 2014, Han purchased a building near Hamjibak Intersection in Bangbae-dong, Seocho-gu, Seoul, for 8.9 billion KRW. After demolishing the building and constructing a new one, she leased the Starbucks Bangbae branch in this building. In January 2019, she sold the building for 17.3 billion KRW, reportedly making a capital gain of about 6.3 billion KRW. In 2018, Han also purchased a detached house on Gyeongridan-gil, Yongsan-gu, Seoul, jointly with her husband Park Myung-soo for 5.5 billion KRW. The area is known for its good security due to the concentration of embassies nearby and offers an excellent view of Namsan. Han, who married Park Myung-soo in 2008, is primarily a dermatologist by profession.
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