Introduction to Barbara Corcoran’s NYC Penthouse Sale
Real estate mogul Barbara Corcoran sealed a sweet deal for her Fifth Avenue penthouse. The “Shark Tank” star made waves in May when her tailor-made Manhattan home went into contract after less than a day on the market.
The Sale Details
Corcoran ultimately earned an extra $1.5 million on top of her asking price, Realtor.com reported, for a total of $13.5 million.
Corcoran pictured in the Fifth Avenue penthouse. Tamara Beckwith
The “Shark Tank” star’s two-decade tenure included $2 million in renovations. Melanie Greene of Greenhouse NYC
The Property and Its History
Corcoran kept it in the family when she tapped Corcoran agents Scott Stewart and Carrie Chiang to list the Upper East Side home for $12 million. The 4,600-square-foot listing reportedly drummed up a bidding war and one winning offer in less than 24 hours. The reality TV star purchased the aerie in 2015 for $10 million, according to city records. Corcoran fell in love with the Carnegie Hill pad decades earlier, in the early 1990s, glimpsing the duplex once while she worked as a part-time messenger.
“I thought, my God, I’ve never seen anything as beautiful in my life,” Corcoran recalled in an interview with the New York Times.
Features of the Penthouse
A curved staircase, original to the home, connects the duplex. Melanie Greene of Greenhouse NYC
The penthouse boasts high ceilings and Central Park views. Melanie Greene of Greenhouse NYC
The chef’s kitchen. Melanie Greene of Greenhouse NYC
The five-bedroom nest features five full baths and two half baths, as well as a chef’s kitchen, a formal fining room, a library and a leafy rooftop terrace. Its two floors are connected by the home’s original curved staircase.
Renovations and Improvements
The 76-year-old dealmaker told the Times that her asking price didn’t match up to her total investment on the home — her two-decade tenure saw the co-op apartment undergo a gut renovation worth $2 million. The meticulous renovation included flipping the floor plan, installing a chef’s kitchen and converting the terrace greenhouse into an indoor/outdoor dining solarium.
A library with custom shelves. Melanie Greene of Greenhouse NYC
Corcoran didn’t move far — she and her husband reportedly found a new place uptown. Tamara Beckwith
A large bedroom. Melanie Greene of Greenhouse NYC
The New Residence
Corcoran and her husband, retired Navy captain Bill Higgins, reportedly moved elsewhere uptown to a single-story condo better suited for Higgins’ mobility needs. The pair initially angled for the Fifth avenue co-op formerly owned by Paul Newman and Joanne Woodward, which also sold far above ask.
The Building and Neighborhood
The five-bedroom sits atop the pre-war 1158 Fifth Ave., a white-glove cooperative designed in 1924 by influential architects C. Howard Crane and Kenneth Franzheim. The building offers its residents a 24-hour doorman and concierge, a live-in manager and a fitness center.
The large terrace. Melanie Greene of Greenhouse NYC
Corcoran transformed her greenhouse into a sunlit dining room. Melanie Greene of Greenhouse NYC
Impact on the Neighborhood
The flurry of interest in Corcoran’s unit appeared to have influenced her next door neighbor to sell, too. The penthouse next to Corcoran’s listed for $11.5 million in September.
The five-bedroom duplex, which also boasts a large terrace, doesn’t appear to have attracted the same flurry of buyer interest just yet. The listing price received a discount earlier this month, according to StreetEasy, down to $10.5 million.
Conclusion
Barbara Corcoran’s sale of her NYC penthouse for $1.5 million above the asking price is a significant achievement, reflecting the property’s unique features, prime location, and the seller’s reputation as a savvy real estate investor. The sale also highlights the ongoing demand for high-end properties in Manhattan, particularly those with historic charm and luxurious amenities.
FAQs
Q: How much did Barbara Corcoran sell her NYC penthouse for?
A: Barbara Corcoran sold her NYC penthouse for $13.5 million, which is $1.5 million above the asking price.
Q: What are the key features of the penthouse?
A: The penthouse features five bedrooms, five full baths, two half baths, a chef’s kitchen, a formal dining room, a library, and a leafy rooftop terrace.
Q: Why did Corcoran decide to sell her penthouse?
A: Corcoran decided to sell her penthouse to move to a single-story condo that is better suited for her husband’s mobility needs.
Q: What is the location of the penthouse?
A: The penthouse is located at 1158 Fifth Ave., a pre-war white-glove cooperative building in the Upper East Side neighborhood of Manhattan.
