Inside the Game-Changing Deal: Who Bagged Barbara Corcoran’s Sky-High Palace and What It Means for the Market
Ever wonder what happens when a real estate mogul who’s made millions navigating the shark-infested waters of the property market decides to flip her own luxury pad? Well, Barbara Corcoran just proved that selling high-stakes real estate isn’t just talk — it’s action, and fast action at that. The “Shark Tank” legend listed her iconic Fifth Avenue penthouse for $12 million, and bam! Within a mere 24 hours, the penthouse was off the market with an offer soaring $1.5 million over asking. Now, that’s not your average real estate hustle — that’s a masterclass in timing, negotiation, and knowing the value of your turf. As Barbara bids farewell to her “palace in the sky,” she’s not just selling a home — she’s closing a chapter packed with savvy investments, sweet memories, and sharp business instincts. Curious how it all went down and what made this deal a slam dunk? LEARN MORE
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.
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