[theqoo] ‘THE TREND’ NCT MARK, GAP INVESTMENT IN 5 BILLION WON ‘NONHYEON BRIGHTON’ APARTMENT

Mark of NCT has recently been revealed as the owner of a high-end 5 billion KRW (about $3.53 million) apartment in the affluent Nonhyeon-dong neighborhood of Gangnam, Seoul. 

The news follows the massive success of his solo debut, which has already earned him the title of half-million seller.

According to real estate industry sources and the Supreme Court registry on the 17th, Mark purchased a 126㎡ unit in the luxury apartment complex Brighton N40 in July last year for 5.05 billion KRW (about $3.56 million). The property was officially registered under his name in September. Notably, a leasehold deposit of 3.1 billion KRW (about $2.19 million) has been set on the unit, indicating that Mark likely utilized a “gap investment” strategy, using approximately 2 billion KRW (about $1.46 million) in cash to secure the property.

The current tenant of the apartment is said to be Kwon Hong Sa, chairman of BANDO E&C.

Brighton N40 is a premium residential complex located at 40 Nonhyeon-dong, Gangnam. The development consists of five buildings ranging from four to ten stories, with a total of 148 units. These include 140 standard units (84–176㎡) and eight penthouses (171–248㎡). Renowned French architect Jean-Michel Wilmotte oversaw both the architectural and landscaping designs. Each unit comes with at least two parking spaces, accommodating a total of 326 vehicles.

With excellent access to central Seoul, panoramic views of the Han River and Nodeul Island, and a triple-layered security system, the property has become a magnet for celebrities. The complex gained major attention when it was revealed that legendary TV host Yoo Jae Suk had purchased a 199㎡ penthouse for 8.66 billion KRW (about $6.11 million). Other reported residents include Seventeen’s Hoshi, actresses Han Hyo Joo and Oh Yeon Seo, entertainer Lee Hwi Jae, INFINITE’s Kim Myung Soo (L), TWICE’s Nayeon, and basketball player Heo Ung.

CR: Allkpop

1. He worked like a dog to earn my money and did everything he could, what’s wrong with jumping through hoops to get the best results?

2. In cases where gap investing is problematic, it’s usually when:

– The investor doesn’t even have the ability to pay back the deposit, or

– The deposit price is so close to the purchase price that the actual investment is extremely low.

Mark doesn’t fall into either of these categories.

At the time of purchase, Nonhyeon-dong wasn’t even under the land transaction permit system, so whether or not he lived there wasn’t an issue either

3. People are even shielding gap investments nowㅋㅋㅋ If it had been a woman, she would’ve been torn to shreds, people would be posting new threads about lease deposit scams and all the problems with Korea’s real estate system (T/N: “Gap investment” done by celebrities is seen in a negative light in SK because it usually involves buying a property with a small amount of actual money  and relying on someone else’s large deposit to fund the purchase. For many ordinary people struggling to buy a home, this feels like rich people playing real estate like a game, using their wealth and influence to profit off a system that already disadvantages the average person. It also may lead to increase in house prices and initial deposit, among other things)

4. That’s right, Mark-yah, you’re also a pastor’s kid

5. Why are people shielding this investment? It’s because of things like this that the price of houses keep on inflating

6. So many kids who are breaking their brains for a man here

7. People are barging in to hate on female celebrities just with the fact that there are speculations about an investment. While for male celebrities, when it’s clearly. a gap investment, people are going “But it’s his own money, so who cares?”ㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋ

8. A rich kid doing gap investment..ㅋㅋㅋ Disappointing

9. Must be nice for him to have so many fans

10. As expected, he’s getting shield because he’s from SMㅋ