In 2020, Bethenny Frankel paid $2.1 million for a Connecticut home, renovated it, and sold it in 2021 for $3.3 million, a $1.2 million gross increase

In 2020, entrepreneur and television personality Bethenny Frankel put that principle to the test when she bought a 1945 Colonial-style home in Greenwich, Connecticut. Rather than simply reselling the property, she reworked its interiors, updated key features and gave the house a lighter, more contemporary appearance. The investment paid off when the renovated home sold in 2021 for about $3.3 million, roughly $1.2 million above the purchase price.

The sale reflected Frankel’s interest in buying homes with potential, improving them, and reselling them at a higher price. However, the difference between the purchase and sale prices represents a gross increase, not her final profit, because renovation expenses, taxes, transaction fees and other costs must also be considered.

A 1945 home with room for improvement


According to Bravo's account of the renovation, Frankel bought the Connecticut property in 2020 for about $2.1 million. The five-bedroom Colonial had features that offered scope for modernisation, including its kitchen, bathrooms, lighting and interior layout. Its traditional character was not necessarily a disadvantage; the challenge was to make the house feel more open and current without losing the elements worth preserving.

Frankel approached the project as a redesign rather than a simple redecorating job. She said she was aiming to turn the outdated Colonial home into something more modern and open. Her remodelling work entailed modifying the floor, painting, lighting, and interior design of the home. The home had features that could attract buyers, including a backyard pool and several fireplaces. Along with five bedrooms, these features made the home both traditional and redesigned.

The renovation that changed the house

According to Architectural Digest, the 4,698-square-foot property underwent several practical upgrades alongside its visual makeover. The kitchen was improved, a new mudroom was added, and the lighting and mechanical systems were modernised. Frankel also installed a new boiler and water heater, while a dedicated dressing room, fitted with shelving for handbags and shoes, reflected her attention to storage and everyday functionality.

The changes also improved the functionality of the interior spaces. According to Frankel, she designed the flow of the house to create a sense of openness and welcome. Additionally, she said that she had made an effort to retain what was original rather than tearing everything down and starting from scratch. The neutral colours and contemporary furniture complemented the design.

This approach matched Frankel’s broader renovation philosophy. In an interview with Architectural Digest, she explained how she liked to purchase homes which already had a solid foundation but required some creativity and updating. She also valued workmanship, explaining that the money spent on hiring a great contractor, architect, or interior designer meant more to her than purchasing costly furniture or décor. Therefore, her method was not focused on making the home appear costly. Instead, it involved improving functional aspects of the home, updating its appearance while keeping its valuable elements.

A quick sale, but not necessarily a $1.2 million profit

Financial success became evident in 2021. Frankel states that the property value reached $3.375 million once the property was renovated, and the sale took place in less than a month after listing. Architectural Digest reported the sale price at $3.3 million, indicating a substantial increase from the roughly $2.1 million Frankel paid the year before. The difference between the prices is about $1.2 million. However, it should not be mistaken for her actual profit, as there is no information provided on the total cost of renovation, financing, taxes, legal fees and the agent's commission in the existing reports.

Still, the relative shortness of the process did make this particular Greenwich venture an interesting case of Frankel's real estate approach. She had purchased and renovated houses in New York and the Hamptons before, and this one was no exception, following the same principle of buying a potentially lucrative property and then renovating it for resale. She also owns another Greenwich house purchased in 2020.

The transformation of the Colonial showed how renovation as a means of investing in real estate involves more than just decorating. To invest successfully, one must balance the purchase price, improvement costs, the home's marketability after renovation, and buyer demand. Frankel’s sale was an example of how those elements can come together, although not all renovations are likely to be that profitable.

The Connecticut home was a short-term investment rather than a long-term residence. She managed to get a better price after selling the house within one year since she had upgraded it to suit the new market. The increase was about $1.2 million, though the final profit would depend on renovation and transaction costs.