30-year-old South Korean actor Lee Jong Suk, who enlisted in the military in March, was revealed to have sold his coffee shop in the upscale district of Sinsa-dong, Gangnam, Seoul for 5.9 billion won, or $4.9 million USD, last month. The coffee shop had increased 2.5 billion won (US$2 million) in market value at the time of selling.
In September 2016, Lee purchased an abandoned building in Sinsa-dong for 3.9 billion won. After undergoing a complete makeover, he opened the cafe restaurant “89Mansion.” The first floor was a cafe, while the second floor was a western-style restaurant. Many of 89Mansion’s customers were Lee’s own fans.
Losing business because of the COVID-19 pandemic, Lee considered long-term closure, but decided to ultimately end its business. The restaurant will shut down on September 14.
According to a real estate agent, the “Lee Jong Suk effect” had successfully revived an abandoned building into a marketable and thriving location for business. It wasn’t difficult to find buyers for the restaurant. In four years, the market value of the building went up 2.5 billion won.
Korean media has also reported that Lee Jong Suk has recently purchased a luxury apartment complex in NINE ONE Hannam for about 5 billion won. Some of his neighbors include Big Bang’s G-Dragon and actor Ju Ji Hoon.
This article is written by Addy for JayneStars.com.