Seo Jang-hoon, a broadcaster and former basketball player, has put the Dabo Building in Seocho-dong, Seocho District, Seoul, up for sale for 45 billion won. Seo Jang-hoon bought the building at auction in 2000 for 2.817 billion won, and the current asking price is about 16 times the acquisition price.
According to the commercial real estate platform DIsco on the 7th, the Dabo Building in Seocho-dong was listed for sale at 45 billion won. The listed property is a neighborhood living facility with two basement floors and five above-ground floors, completed in Nov. 1986. The site area is 376.9㎡, and the total floor area is 1,474.78㎡.
The Dabo Building is located in front of exit 2 of Yangjae Station, where Seoul Subway Line 3 and the Shinbundang Line run. It is a general commercial district building on the corner of the intersection where Gangnam-daero and Nambu Beltway meet.
Seo Jang-hoon bought the building for 2.817 billion won at auction in 2000, right after the foreign exchange crisis. Based on the current asking price, that is 42.183 billion won higher than the purchase price. This is a simple difference that does not take into account acquisition expense and remodeling expense, property holding tax, or capital gains tax.
The Dabo Building was also valued at about 45 billion won in the market in 2022. At the time, a building behind it was put up for sale at about 46.7 billion won, and the value of the Dabo Building, which adjoins the Yangjae Station exit, was also estimated at around 45 billion won.
After purchasing the building, Seo Jang-hoon carried out remodeling instead of demolition and new construction. The building houses commercial facilities such as restaurants, a hospital, and a dental clinic. In addition to the Dabo Building, Seo Jang-hoon owns buildings in Heukseok-dong, Dongjak District, and Seogyo-dong, Mapo District, Seoul. The Heukseok-dong building was reportedly purchased in 2005 for 5.8 billion won, and the Seogyo-dong building in 2019 for 14 billion won.