According to money today on August 27, Psych purchased two units a “Upper House Namsan” On 11 July 2022, measuring 252.91㎡ (76 Pyeong) and 239.25㎡ (72 Pyeong) respectively. The construction was completed in July last year, with Psych that aimed for payment for the unit 239.25㎡ in September 2022 and the largest unit 252.91㎡ on 31 July, three years after the initial contract.
The sale price for a 252.91㎡ unit on Namsan of the upper house It is estimated between ₩ 10.5 billion and ₩ 12.5 billion. Based on these figures, the combined value of the two PSY properties exceeds 20 billion.
The documents of the register show a guaranteed maximum bond of ₩ 3.652 billion on the unit 239.25㎡, suggesting that PSY probably signed a loan of about 3.04 billion people, since the guaranteed obligations are generally set at 120% of the loan amount. The larger unit 252.91㎡ has been believed to have been purchased entirely in cash.
In addition to the new acquisitions, PSY has multiple commercial buildings in Seoul Gangnnam-Gu (Sinsa-Dong), Yongsan-Gu (ItaEWon-Dong) and Seodaemun-Gu (Changcheon-Dong). According to Real Estate Planet, the combined market value of these buildings is estimated at ₩ 62.2 billion (₩ 20.8 billion of Sinse-Dong, ₩ 22.8 billion in Itaewon and ₩ 18.6 billion in Changcheon-Dong). When the new villas include, PSY’s total real estate participations exceed 80 billion.
“Upper House Namsan” It is a luxury villa complex of 19 units developed in 2022 by Shinwon Construction in the former Namsan Gymnasium site.
Sources: Nate
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