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Frankel Flips Colonial for $1.2M Profit
21 Oct
Summary
- Bethenny Frankel bought a colonial home for $2.1 million in 2020.
- She sold the renovated home for approximately $3.3 million.
- The quick flip resulted in a gross profit of $1.2 million.
Bethenny Frankel acquired a traditional colonial home in Greenwich, Connecticut, in 2020 for about $2.1 million. The property, built in 1945, featured five bedrooms and a substantial 4,698 square feet of space.
Though possessing solid foundations and desirable amenities like a pool and fireplaces, the home's interiors felt dated. Frankel envisioned a renovation that would update the kitchen, bathrooms, and overall flow, making it more appealing to contemporary buyers.
The renovation included a complete kitchen overhaul, a new mudroom, updated lighting, and mechanical systems. A specialized dressing room was also added, demonstrating Frankel's attention to detail for potential buyers.
She prioritized functional improvements and a cleaner aesthetic with neutral colors and modern furnishings. Her approach emphasizes enhancing existing structures with creative and thoughtful updates rather than extensive demolition.
Following the renovations, the home was listed and sold in under a month for roughly $3.3 million. This transaction represented a gross increase of $1.2 million over the initial purchase price, highlighting Frankel's successful strategy of short-term investment and practical property enhancement.
