Broadcaster Seo Jang-hoon [Newsis]
Broadcaster Seo Jang-hoon [Newsis]

Dabo Building in Seocho-dong, Seocho-gu, Seoul — owned by former basketball player turned broadcaster Seo Jang-hoon — has been listed for sale at 45 billion won ($31.7 million). Seo purchased the building through a court auction in 2000 for 2.82 billion won, meaning the current asking price is roughly 16 times what he paid.

The building was registered for sale at 45 billion won, according to the Chosun Ilbo on Friday. The listing covers a neighborhood commercial facility completed in November 1986, with two below-ground floors and five above-ground floors. The site area is 376.9 square meters and the total floor area is 1,474.78 square meters.

Dabo Building sits directly in front of Exit 2 of Yangjae Station, served by Seoul Metro Line 3 and the Shinbundang Line. The building occupies a corner lot at the intersection of Gangnam-daero and Nambusunhwan-ro and is zoned for general commercial use.

Seo acquired the building at auction in 2000, shortly after the Asian financial crisis, for 2.82 billion won. Based on the current asking price, the building has appreciated by 42.18 billion won — a simple price difference that does not account for acquisition costs, remodeling expenses, property holding taxes or capital gains tax.

Dabo Building was already valued at around 45 billion won in 2022. At the time, a building behind it came on the market at around 46.7 billion won, prompting estimates that Dabo Building — which fronts directly onto the Yangjae Station exit — was worth around the same amount.

Rather than demolishing and rebuilding after his purchase, Seo opted to remodel the structure. The building currently houses restaurants, a general clinic and a dental clinic, among other commercial tenants. Beyond Dabo Building, Seo also owns properties in Heukseok-dong, Dongjak-gu, and Seogyo-dong, Mapo-gu, both in Seoul. He reportedly purchased the Heukseok-dong building in 2005 for 5.8 billion won and the Seogyo-dong building in 2019 for 14 billion won.


husn7@heraldcorp.com