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)





[07/23/16 - 01:55 PM]
Video: "Lucifer" Comic-Con(R) 2016 Highlight Reel & Season 2 First Look
The highlight reel includes a sneak peek at some hot new, never-before-seen footage from Season 2.

[07/23/16 - 01:45 PM]
Video: Watch New Footage from the Upcoming Season of "Family Guy" That Just Screened at San Diego Comic-Con
Season 14 premieres Sunday, September 25 at 9:00/8:00c on FOX.

[07/23/16 - 01:08 PM]
Video: Nickelodeon World Premieres "Legends of the Hidden Temple" Trailer at San Diego Comic-Con 2016
The TV movie follows three siblings who break away from a lackluster tour in a jungle, finding themselves immersed in a high-stakes adventure comprised of obstacles that they must complete in order to escape alive.

[07/23/16 - 12:54 PM]
New Faces from Jane's Past Emerge for Season Two of "Blindspot"
Luke Mitchell and Michelle Hurd will be joining "Blindspot" as series regulars for season two.

[07/23/16 - 11:36 AM]
"The Vampire Diaries" to Conclude After Eight Seasons of Epic High-Stakes Drama
The panel concluded with a farewell video from the cast and producers, which featured an exclusive premiere of the new song "Changing Tides," by The Fray.

[07/22/16 - 07:12 PM]
Video: "iZOMBIE" Season 2 Highlight Reel Comic-Con(R) 2016
Cast and producers returned to San Diego for the third year in a row to give fans a taste of what is to come in the upcoming season.

[07/22/16 - 06:49 PM]
Video: "Vikings" - Season 4 Returns Comic-Con Full Trailer
Check out the full length trailer from this year's Sand Diego Comic-Con for the return of Season 4.

[07/22/16 - 06:00 PM]
Comedy Central and South Park Digital Studios Celebrate 20 Seasons of "South Park"
The historic 20th season premieres this fall on Wednesday, September 14 at 10:00 p.m. ET/PT.

[07/22/16 - 04:49 PM]
It's Official: "Bates Motel" Will Close After Season 5
Additionally, Rihanna will appear as Marion Crane in the final season.

[07/22/16 - 04:18 PM]
Video: Starz Releases First Live Action Trailer for "American Gods"
Also, making a very special appearance was Kristin Chenoweth who graced the stage as it was announced she will star in the role of Easter.

[07/22/16 - 03:59 PM]
Gabriel Luna Joins "Marvel's Agents of S.H.I.E.L.D." as Ghost Rider
"Season 4 will unquestionably be the series' biggest, most ambitious story yet, and it all begins with the introduction of one of our greatest legacy characters in Ghost Rider," said Jeph Loeb.

[07/22/16 - 03:45 PM]
Video: Watch Highlights from Thursday's "The Rocky Horror Picture Show" Panel
"Let's Do the Time Warp Again" premieres Thursday, October 20 on FOX.

[07/22/16 - 03:40 PM]
Video: Everyone Is Singing After "Steven Universe" Musical Performance at San Diego Comic-Con
Fans were also treated to an exclusive sneak peek at a brand new episode "Beach City Drift."

[07/22/16 - 01:32 PM]
Video: "The 100" Season 3 Highlight Reel Comic-Con(R) 2016
The sizzle included an all-new voice over by series star Eliza Taylor teasing what fans can expect from the upcoming fourth season.

[07/22/16 - 01:24 PM]
AMC Announces "The Walking Dead" Season Seven Will Debut Sunday, October 23 at 9:00 P.M. ET/PT
Plus: check out the trailers for the new seasons of "The Walking Dead" and "Fear the Walking Dead."