"If You Do the Opposite of Noh Hongchul, You'll Succeed in Investing" Once Had the Midas Touch in Reverse... Now a Surprising Profit Turnaround

Value Increased After 2018 Purchase and Remodeling
Estimated Worth Reaches 23.6 Billion Won Based on Nearby Transactions

It has been analyzed that broadcaster Noh Hongchul (46) has realized a capital gain of more than 11 billion won on a building he owns in Apgujeong-dong, Gangnam-gu, Seoul, seven years after purchasing it.

In November 2018, Noh Hongchul purchased a building located off Apgujeong-ro near Apgujeong Station for approximately 12.2 billion won. The total investment, including acquisition tax and brokerage fees, is estimated to be about 12.9 billion won.

Noh Hongchul SNS

The building, completed in 1988, is a five-story structure (basement level 1 to ground level 5) with a total floor area of 1,368.6 square meters (about 414 pyeong). Immediately after the purchase, Noh Hongchul terminated the lease with the first-floor tenant and proceeded with remodeling. Currently, a cafe occupies the first floor, while an English academy and an acting academy are located on the upper floors. A soccer school is planned to open in the basement.

The building is situated in the commercial area behind Apgujeong Shinhyundai Apartment Complex, just a six-minute walk from Exit 5 of Apgujeong Station on Seoul Subway Line 3, resulting in high foot traffic. According to the certified copy of the real estate register, the maximum secured amount for loans is 4.2 billion won, and the principal loan amount is about 3.5 billion won. The actual cash invested, including remodeling costs, is estimated to be around 10 billion won.

Reflecting recent transactions of similar buildings in the vicinity, the property is valued at approximately 1.5 billion won per 3.3 square meters. Based on this, the current estimated value of Noh Hongchul’s building is about 23.6 billion won, suggesting a capital gain of roughly 11.4 billion won compared to the purchase price.

In addition, Noh Hongchul has shown interest in real estate in the Haebangchon and Huam-dong areas of Yongsan. In January 2016, he purchased a two-story building near the Shinhung Market for 670 million won and opened “Cheoldeun Bookstore,” which sold independent publications and books. Two years later, he sold the building for 1.44 billion won, earning a profit of about 700 million won. He later renovated his residence in Huam-dong to operate “Hongchul Book Bakery.”

In 2021, he shared his investment experience by mentioning a previous case of purchasing an Apgujeong Hyundai Apartment at auction. In May 2010, he successfully bid for a 160-square-meter (54-pyeong) Apgujeong Hyundai Apartment at a court auction for 2.217 billion won, which was about 400 million won below the market price at the time, drawing public attention. However, he confessed that the price increased by another 1.2 billion won right after he sold it.