Barbara Corcoran Lists Luxury Manhattan Penthouse for $12 Million

News Summary

Barbara Corcoran, renowned entrepreneur and investor, has put her stunning two-story penthouse in Manhattan on the market for $12 million. The 4,600-square-foot apartment, featuring breathtaking views of Central Park, was the result of over two decades of renovations and personal connection. Corcoran, who purchased it for $10 million in 2015, made significant updates to the property, including a newly designed library and chef’s kitchen. The decision to sell stems from challenges with the staircase, prompting a move to a new single-story home in the same neighborhood.

New York City – Barbara Corcoran, the 76-year-old entrepreneur and media personality, has listed her luxurious Manhattan penthouse for sale at $12 million after years of renovations. The 4,600-square-foot two-story penthouse is located at the intersection of Fifth Avenue and 97th Street and features stunning views of Central Park from its expansive terrace.

Corcoran’s connection to the penthouse dates back to 1992 when she first laid eyes on the property while delivering letters as a side job. She was captivated by the apartment’s charm and immediately expressed her interest in purchasing it if it ever went on the market. After over two decades, her wish came true when she was notified by the previous owner that the time had come to sell.

In 2015, Corcoran acquired the penthouse for $10 million and subsequently invested an additional $2 million in renovations over the following 18 months. The apartment boasts five bedrooms, five full bathrooms, and two half bathrooms. Among the notable modifications is a newly designed library complete with a wood-burning fireplace, a butler’s pantry, and a chef’s kitchen that opens up to the terrace, creating an ideal space for entertaining guests.

The decision to sell the penthouse was prompted by difficulties Corcoran and her husband, Bill Higgins, 80, faced while navigating the property’s curved staircase. They have since pinpointed a new single-story penthouse in the same Carnegie Hill neighborhood, making the transitional process smoother.

Corcoran has listed the penthouse for $12 million, which she considers a “fair price” for the property. It carries monthly maintenance fees of approximately $11,000. The redesigned layout honors the original staircase while converting a greenhouse into a dining space, preserving the apartment’s unique character and aesthetic.

Despite her decision to sell, Corcoran has shared a deep emotional connection to the penthouse and the treasured memories it holds for her and her family. Her financial success is noteworthy; having previously generated around $4.5 million annually from her investments, she has also been a prominent investor on the television show “Shark Tank” for 16 years. Notably, she sold her real estate firm, The Corcoran Group, for $66 million in 2001 and has successfully closed 650 deals during her tenure on the show.

The penthouse gained further public attention when Corcoran welcomed TikTok creator Caleb Simpson for a tour of her home in November 2022, exposing the property to a wider audience online. Earlier this year, Corcoran experienced a personal setback when a fire devastated her mobile home in California, prompting her desire for a more manageable living situation.

The listing of her penthouse is co-managed by Scott Stewart and Carrie Chiang, representing a significant opportunity in the high-end real estate market of New York City. Corcoran’s extensive experience in the industry, coupled with her successful career as an investor, makes this property a unique offering for potential buyers looking for an iconic home in one of the city’s most coveted neighborhoods.

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Additional Resources

• The New York Times
• Wikipedia: Barbara Corcoran
• Entrepreneur
• Google Search: Barbara Corcoran penthouse
• CNBC
• Encyclopedia Britannica: Barbara Corcoran
• Moneywise
• Google News: Barbara Corcoran