or


[10/09/04 - 12:00 AM]
The Complex: Malibu' Unit No. 1 Sold for the Highest Amount at Public Auction on Series' Season Finale

[via press release from FOX]

"THE COMPLEX: MALIBU" UNIT NO. 1 SOLD FOR THE HIGHEST AMOUNT AT PUBLIC AUCTION ON SERIES' SEASON FINALE

Steve and Nicole Receive the Profits from the Sale of All Four Units

Spending a grueling summer renovating rooms in a condominium complex in Malibu, CA, and almost bringing their relationship to the breaking point paid off for Chicago couple Steve and Nicole on tonight's season finale of THE COMPLEX: MALIBU (8:00-9:00 PM ET/PT) on FOX. Todd Wohl of Premiere Estates Auction Company auctioned off the unit they worked on, unit No.1, for $1.2 million, realizing the highest-percentage profit of the units sold. Unit No. 1 is a two-bedroom, two-bath, 1,100-square-foot condominium with a knockout view of the Pacific Ocean.

In accordance with the rules of the show, Steve and Nicole walked away with the grand prize: over $300,000 � the profits from the sale of all four units. Each unit's profit was calculated as the difference between the amount of the auction sale and the unit's basis price. The basis prices are the total costs associated with the acquisition of the building, the process of converting the units from apartments to condominiums, and renovation costs not covered by the show's production budget. (Each of the four units has a different basis price. This differential is based on individual property appraisals and valuations by real estate agents prior to any work being done by the contestants.)

Unit No. 1 was purchased by a local Santa Monica couple who were the first tenants in the building after it was built in 1969, when their rent was $175 per month. While renting the unit, the husband met, dated and married his wife, and they conceived their first child there.

The three couples who renovated the other units in THE COMPLEX: MALIBU received nothing. Unit No. 2, also an 1,100-square-foot condo with two bedrooms and two bathrooms, renovated by Scott and Nicole "Sam" from Canton, GA, sold for $900,000. Unit No. 3, a two-bedroom, two-bath unit with 1,100 square feet of living space, was renovated by Dave and Ana from New York, NY, and sold for $950,000. Unit No. 4, the largest unit in the complex with three bedrooms and two bathrooms in 1,450 square feet, was redone by Barney and Rose from Hauppauge, NY, and sold for $950,000.

The unscripted series began with eight couples who were split into two groups, Upper and Lower Complex, and competed for the opportunity to restore and redecorate one of four units. Under tight deadlines, the couples battled each other for control of the units while trying to add the most value to each of the rooms. After each room was completed, a panel of real estate professionals � an interior designer, a real estate agent and an architect � ranked the rooms from best to worst. Meanwhile, the couples decided which pair from their group to evict weekly. The team responsible for the room that judges felt brought the least amount of value to the complex each week lost a couple, until four remained.

Premiere Estates Auction Company co-founders Edward Kaminsky and Todd Wohl assist property owners in achieving the maximum value possible for their unique and prestigious properties. Premiere's auction methodology creates a highly competitive bidding forum unlike the traditional real estate selling process. Kaminsky has been recognized as one of the top-100-producing real estate agents out of over 1 million real estate agents nationally. For over 16 years, Wohl has sold hundreds of millions of dollars of real and personal property for major corporations, banks and individuals.

Alex Shirloo of Prudential California had the property listing.

THE COMPLEX: MALIBU is produced by FremantleMedia North America, Inc. Ted Haimes ("Married By America," "Temptation Island," "The History of Rock 'n' Roll") is executive producer.





  [october 2004]  
S
M
T
W
T
F
S
     


· COMPLEX, THE: MALIBU (FOX)
· MARRIED BY AMERICA (FOX)
· TEMPTATION ISLAND (FOX)





[02/11/16 - 02:49 PM]
FOX Sports Secures National Television Rights to Titans of Mavericks Big Wave Surfing Event
"This winter has already seen some of the biggest waves ridden around the world," says Melissa Forman.

[02/11/16 - 02:33 PM]
CMT's "Party Down South" Boosts Thursday Night Programming Block with Strong Premiere and Double-Digit Growth in Week 2
CMT further spins the numbers for Thursday, January 28 and Thursday, February 4.

[02/11/16 - 01:51 PM]
AMC Orders New Late-Night Talk Show, "Geeking Out" (Working Title)
The 30-minute show will take a timely look at pop culture through a fanboy lens and feature talk, clips, celebrity interviews and out-of-the-studio segments.

[02/11/16 - 01:28 PM]
Video: "Silicon Valley" - Season 3 Tease (HBO)
The pay channel releases the first tease for the new season, premiering Sunday, April 24.

[02/11/16 - 01:13 PM]
The CW Sets Upcoming Premiere Dates and Returns
Highlights include the premiere of "Containment" (Tuesday, April 19) and the return of "Reign" (Monday, April 25) and "Beauty and the Beast" (Thursday, June 2).

[02/11/16 - 01:09 PM]
History's Epic Event Series "Roots" Set to Premiere on Memorial Day 2016
"Roots" will be simulcast on A&E and Lifetime, in addition to History.

[02/11/16 - 11:40 AM]
HGTV "Fixer Upper" Crushed Cable Ratings Among P25-54 and W25-54 on Tuesday Night
HGTV spins the numbers for Tuesday, February 9.

[02/11/16 - 11:36 AM]
Hulu Acquires Exclusive Streaming Rights to Syfy's "12 Monkeys" in New Deal with NBCUniversal
Through the deal, Hulu acquires a full library of programming for series "Battlestar Galactica" and "Saved by the Bell," which are available to stream now.

[02/11/16 - 11:20 AM]
Animal Planet's "Insane Pools: Off the Deep End" Transforms Boring Pools Into Backyard Paradises
This season, the team dives into a slew of firsts, including some of their biggest builds, new locations and extreme, never-before-attempted creations.

[02/11/16 - 11:08 AM]
"The Willis Family" Returns to TLC with a Music and Family-Filled Second Season
The Willis are back with an all-new type of balancing act as they swap life on the road for their home in Nashville in the new season premiering on Tuesday, March 15.

[02/11/16 - 11:01 AM]
"LEGO Star Wars: The Freemaker Adventures" Is Coming to Disney XD this Summer
The fun-filled adventure comedy series will introduce all-new heroes and villains in exciting adventures with many familiar Star Wars characters.

[02/11/16 - 10:05 AM]
FYI(TM) Premieres New Original Series "Bride & Prejudice" Tuesday, March 8 at 9PM ET/PT
The series follows three star-crossed couples who desperately want to get married, but whose prejudiced family members do not approve of their unions.

[02/11/16 - 10:01 AM]
Multiple Grammy Award Winners Yolanda Adams and Michael W. Smith to Perform on "The Passion"
Adams will kick off the show with a special live performance and Smith has been tapped for a role as one of Jesus' disciples.

[02/11/16 - 09:51 AM]
Spike's "Bar Rescue" Celebrates 100th Episode on Sunday, March 6 at 9/8c
For said installment, Jon Taffer heads to a Minneapolis, MN suburb to settle the score between two feuding bar owners at Mac & Chester's and SRO.

[02/11/16 - 09:31 AM]
Disney Junior's "Doc McStuffins" to Feature Adoption Storyline When the McStuffins Family Welcomes a Baby This Spring
"Doc McStuffins" has been lauded globally for its imaginative storytelling about a young girl who aspires to be a doctor like her mom and runs a clinic for stuffed animals and toys.