Summary:

Barbara Corcoran bought a $13 million NYC penthouse after initially seeing it in 1992 during a package delivery.
She fell in love with the 4,600 sq ft apartment's features like its greenhouse and terrace.
The purchase price was $10 million, with an additional $3 million spent on renovations.
Corcoran's real estate philosophy is driven by emotional connection rather than purely financial calculations.
She plans to live there for at least 10 years, despite it being potentially worth $12 million.

Barbara Corcoran's $13M NYC Penthouse Dream: From Delivery to Ownership!

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In 1992, Barbara Corcoran, founder of The Corcoran Group, was delivering packages—yes, you read that right! During one delivery to a luxurious Fifth Avenue penthouse, she fell in love with the 4,600-square-foot space. She envisioned herself living there one day.

A Visionary's Persistence:

Despite the challenging real estate market, Corcoran's dream persevered. She told the owner, "If you ever sell this, would you sell it to me?" The owner initially dismissed her, but years later, after Corcoran's rise to fame, the call came.

The Big Purchase & Renovation:

In 2018, Corcoran and her husband, Bill Higgins, purchased the 11-room duplex penthouse for $10 million, investing an additional $3 million in renovations. Key features include a stunning greenhouse, a curved staircase, and a terrace offering breathtaking city views.

An Emotional Investment:

Corcoran's approach to buying property is purely emotional. She buys based on how a space makes her feel, prioritizing "romanticism" over purely financial considerations. She emphasized, "I walk in and I go, ‘I belong here.’"

Potential Return:

In a 2020 interview, Corcoran revealed she could likely sell the penthouse for $12 million, but plans to remain for at least 10 years. She confidently stated, "New York is a crazy market... I will make a lot of money."

This story is a testament to the power of vision, persistence, and the undeniable allure of the New York City real estate market.

Source: CNBC