Key Takeaways
- Barbara Corcoran is the founder of real estate firm The Corcoran Group.
- Corcoran put her Fifth Avenue penthouse on the market in May, with an asking price of $12 million.
- An offer was accepted after just one day, but the winning bid hadn’t been disclosed until now.
“Shark Tank” star Barbara Corcoran’s New York City penthouse sold for $1.5 million more than the asking price — after it landed a buyer within just one day.
Corcoran, 76, listed her Fifth Avenue property in May for $12 million, and a bidding war ensued. An offer was reportedly accepted after just 24 hours of being on the market. And now that the deal has officially closed, the winning price has been revealed: The penthouse sold for $13.5 million, an extra $1.5 million over ask, Realtor.com reported.
“Real estate is always emotional, but I never thought I’d say goodbye to this beautiful palace in the sky,” Corcoran wrote on Instagram in May.
Corcoran bought the duplex penthouse a decade ago for $10 million, and poured $2 million into renovating it, leaving her with a net profit of $1.5 million on the sale. She first glimpsed the property in 1992, while delivering letters for a messenger service, and was impressed by its terrace with 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 told The New York Times earlier this year.
In 2015, she got a phone call from the owner and ended up buying the 4,600-square-foot penthouse. The apartment features five bedrooms, five full baths, two half baths, a library with a wood-burning fireplace, and a butler’s pantry.
Now, Corcoran and her husband, Bill Higgins, an 80-year-old former FBI agent, are trading in their two-story penthouse for a single-level apartment with no stairs. Corcoran told the NYT that Higgins could no longer safely manage the stairs, which is why they opted to move.
Corcoran previously stated that she makes $4.5 million from her investments, including profits from her 16-year run as a “Shark Tank” investor. She sold her real estate firm, The Corcoran Group, for $66 million in 2001.
Key Takeaways
- Barbara Corcoran is the founder of real estate firm The Corcoran Group.
- Corcoran put her Fifth Avenue penthouse on the market in May, with an asking price of $12 million.
- An offer was accepted after just one day, but the winning bid hadn’t been disclosed until now.
“Shark Tank” star Barbara Corcoran’s New York City penthouse sold for $1.5 million more than the asking price — after it landed a buyer within just one day.
Corcoran, 76, listed her Fifth Avenue property in May for $12 million, and a bidding war ensued. An offer was reportedly accepted after just 24 hours of being on the market. And now that the deal has officially closed, the winning price has been revealed: The penthouse sold for $13.5 million, an extra $1.5 million over ask, Realtor.com reported.
“Real estate is always emotional, but I never thought I’d say goodbye to this beautiful palace in the sky,” Corcoran wrote on Instagram in May.
The rest of this article is locked.
Join Entrepreneur+ today for access.
