Barbara Corcoran Lists Iconic Penthouse in NYC
Barbara Corcoran, renowned for her role in “Shark Tank,” is parting ways with her remarkable 4,600-square-foot penthouse located on Fifth Avenue in New York City. This significant decision comes after years of cherished residency in a space she once deemed a “multilevel jewel box.”
A Journey to Her Dream Home
The story of Corcoran’s dream home began in 1992, when she, at the time managing her real estate business and working as a messenger, delivered an envelope to an apartment on the top floor of a building at Fifth Avenue and 97th Street. Upon entering, she was captivated by the lush terrace offering stunning views of Central Park.
“I walked in and saw this green, lush terrace through the French doors, and said to the lady who let me in, ‘If you’re ever going to sell this, would you sell it to me?'” Corcoran recounted in an interview with The New York Times.
Acquisition and Renovation
More than 20 years later, her dream became a reality when the owner decided to sell the apartment. Corcoran acquired the penthouse in 2015 for $10 million, followed by an extensive renovation costing an additional $2 million over 18 months. The revamped apartment includes five bedrooms, five full baths, and two half baths.
Features of the Stunning Penthouse
- Library complete with a wood-burning fireplace
- Butler’s pantry for additional convenience
- Full kitchen adjacent to the terrace
Corcoran’s real estate broker, Scott Stewart, described the layout as a “multilevel jewel box,” reflecting the apartment’s stunning design and functionality.
Reasons for Moving
Corcoran, now 76, along with her husband, Bill Higgins, has decided to sell the penthouse due to difficulties navigating its curved staircase. They have already found a new, single-story penthouse in the Carnegie Hill neighborhood.
Current Listing and Market Condition
The apartment is currently listed for $12 million, which Corcoran considers a fair price compared to her investment. Monthly maintenance fees are approximately $11,000. The decision to sell comes amidst the backdrop of other personal challenges, including the loss of her mobile home due to fires in Los Angeles.
Financial Insights
Corcoran has shared insights into her financial success, noting an annual income of about $4.5 million from her investments, bolstered by her 16 years as a “Shark Tank” investor. Additionally, she sold her real estate company, The Corcoran Group, for an impressive $66 million in 2001.
Reflections on Home
Reflecting on her time in the penthouse, Corcoran previously expressed her gratitude, stating, “How lucky am I?” during an interview. The memories created within those walls will remain a cherished part of her journey.