Barbara Corcoran, founder of the eponymous real estate firm and a star investor on the “Shark Tank” television series, has cashed out on her New York City penthouse.
The 76-year-old entrepreneur listed the condo at 1158 Fifth Avenue in May and found a buyer a day after listing it, The Real Deal previously reported. The closed deal came out to $13.5 million, exceeding her original asking price by $1.5 million, according to Realtor.com.
Corcoran purchased the historic penthouse at 1158 Fifth Avenue for $10 million in 2015 and invested an additional $2 million in renovations to tailor the home to her taste.
The Corcoran Group founder has talked publicly about her longtime personal connection to the residence.
Her relationship with the Upper East Side penthouse dates to 1992, when she was working as a messenger. One of her deliveries led her to the home, which she has described as captivating, despite being out of her financial reach at the time. She even asked the owner to keep her in mind if the property ever became available. In 2015, after being contacted by the owner, Corcoran purchased the property.
She later embarked on a complete overhaul, reconfiguring the upstairs and downstairs spaces, transforming a greenhouse area into an indoor/outdoor dining space, and upgrading the kitchen.
The enhanced home now has 11 rooms across two floors, with views of Central Park and the city’s skyline.
After nearly a decade as her primary residence, Corcoran decided to sell the penthouse due to her husband, Bill Higgins, struggling with the staircase that connected the two levels. They began searching for a single-story home to suit his mobility needs. Their search included a disappointing miss with an offer for a Fifth Avenue co-op formerly belonging to Hollywood icons Paul Newman and Joanne Woodward.
Corcoran has relocated to a single-floor penthouse located nearby in the uptown neighborhood.
The real estate heavyweight also this year lost her Pacific Palisades trailer home in the California wildfires. She has said she plans to rebuild the home.
– Joel Russell
