Why is Barbara Corcoran selling her penthouse?
She is selling because the curved staircase is becoming difficult for her and her husband to use.
Yanuki
ARTICLE DETAIL
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Real Estate / Celebrity Real Estate
Barbara Corcoran Lists NYC Penthouse for $12M
Real estate icon and 'Shark Tank' star Barbara Corcoran is selling her Upper East Side penthouse for $12 million. Corcoran purchased the 11-room duplex co-op in 2015 for $10 million and invested $3 million in renovations.
Key Insights
- Barbara Corcoran is selling her NYC penthouse for $12 million, a property she bought for $10 million in 2015 and renovated for $3 million.
- She first saw the penthouse in 1992 while working as a messenger and envisioned herself living there.
- The penthouse features a glass solarium dining room, a custom-designed library, and a landscaped terrace with Central Park views.
- Corcoran is selling because the curved staircase is becoming difficult for her and her husband to use.
- The monthly maintenance fee for the unit is around $11,000.
In-Depth Analysis
Barbara Corcoran's decision to sell her Upper East Side penthouse marks the end of an era for the real estate mogul. She initially spotted the apartment in 1992 while delivering packages and finally acquired it in 2015. The 4,600-square-foot duplex at 1158 Fifth Avenue has been extensively renovated, including converting the greenhouse into a dining space and adding a chef's kitchen. The apartment features five bedrooms, five full baths, two half baths, a library with a wood-burning fireplace, and a butler's pantry. The building, designed in 1924, offers a 24-hour doorman, concierge, and fitness center. Corcoran's unique approach to real estate, based on emotional connection, is evident in her transformation of the space into a 'multilevel jewel box.'
FAQ
How much is the monthly maintenance fee?
The monthly maintenance fee is around $11,000.
What are some of the key features of the penthouse?
Key features include a glass solarium dining room, a custom-designed library, and a landscaped terrace with Central Park views.
Takeaways
- Barbara Corcoran's story highlights the importance of vision and emotional connection in real estate. Her ability to see potential in a property and transform it into a dream home is a testament to her real estate genius. This sale also reflects the evolving needs of homeowners as they age, emphasizing the importance of considering long-term accessibility in home design.
Discussion
What do you think about Barbara Corcoran's decision to sell her penthouse? Share your thoughts in the comments below! Share this article with others who need to stay ahead of this trend!
Sources
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