Kwon Sang-woo, investment is also a hit man...It's gone up 35 billion won in 10 years, and what if you're doing construction?
Feb 17, 2025
|
According to the real estate industry, Kwon Sang-woo is currently in the midst of new construction after demolishing his building in October last year in Seongsu-dong 1-ga, Seongdong-gu, Seoul.
The building boasts a super-station area where you can use Ttukseom Station on Line 2 and Seoul Forest Station on the Suinbundang Line on foot. Kwon Sang-woo purchased the site of the factory for 8 billion won in April 2015, demolished the existing factory and built a two-story building.
The building had a self-cleaning car wash and an agency company represented by Kwon Sang-woo. The car wash was also famous as a place run by Kwon Sang-woo himself.
Kwon Sang-woo, who ended the operation of the car wash in October last year, immediately demolished the building and began construction of the new building in November of the same year. Construction will continue until the end of April.
At the time of Kwon Sang-woo's purchase, the building area was 946㎡ (about 286 pyeong), but it is expected to be transformed into a two-story building with a building area of 503㎡ (about 152 pyeong) after the new construction. Referring to the construction information sign, it is predicted that a general restaurant, a type 2 neighborhood living facility, will also be created.
The real estate industry estimates the current value of the site to be around 43 billion won. Considering that Kwon Sang-woo bought the site for 8 billion won in 2015, it is estimated that he earned 35 billion won in simple market profits in 10 years, excluding taxes and construction costs.
rightlight@sportschosun.com
