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Shark Tank star and Corcoran Group founder Barbara Corcoran is letting go of the dream penthouse that became her home 10 years ago.
Back in 1992 when Corcoran was still working side hustles to make her living, she was delivering letters for a messenger service to a building at Fifth Avenue and 97th Street when she saw the terrace that took her breath away. As she stepped out of the elevator on the building’s top floor, Corcoran saw beyond a pair of French doors an inviting outdoor space with stunning Central Park views.
“I thought, my god, I’ve never seen anything as beautiful in my life,” Corcoran told The New York Times.
There was no sign then that the homeowner would ever want to move, but Corcoran knew that no one stays in the same house forever — and she was playing the long game. As the now well-known story goes, Corcoran gave the homeowner an envelope and asked her to call her if she ever decided to put the home on the market.
It took more than 20 years, but Corcoran got the call. The year was 2015, and she paid $10 million for the 4,600-square-foot duplex.
The home has five bedrooms, five full baths and two half baths. After Corcoran bought the penthouse, she decided to flip the upstairs and downstairs, moving the kitchen to the upper level just off of that show-stopper terrace. She also transformed a greenhouse area into an indoor/outdoor dining room. For a year-and-a-half, the renovation continued, during which time Corcoran and her then-10-year-old daughter Kate would sometimes take sleeping bags up to the terrace and fall asleep under the stars, Corcoran told The NYT.
The only original feature of the duplex that remained after the renovation was the curved staircase, which has become the reason for Corcoran’s selling the property, as she and her husband, retired Navy captain and octogenarian Bill Higgins, grow older. The stairs have become too much for Higgins, Corcoran told The NYT, “and I’m not running those stairs anymore, either.”
In 2022, viewers on TikTok got a glimpse into Corcoran’s apartment when she gave a tour to influencer Caleb Simpson, who is known for his videos asking New Yorkers how much they pay for rent.
@calebwsimpson @barbara.corcoran ♬ Sunroof – Nicky Youre & dazy
Scott Stewart and Carrie Chiang of Corcoran Group are co-listing the apartment with an ask of $12 million, which Corcoran said is less than what she spent buying and renovating it. But, she’s hoping at that price, she’ll receive multiple bids. Monthly maintenance on the property is about $11,000.
When Corcoran learned in December that Paul Newman and Joanne Woodward’s long-time pied-à-terre, which was only a few blocks away, was listed at $9.95 million, she put in an offer. But the single-story apartment, which also had a knockout view of Central Park, received a higher offer, and Corcoran missed the opportunity.
Corcoran also faced a blow when she learned in January that her mobile home in LA was destroyed by the Palisades Fire.
Chiang kept her ears to the ground for other opportunities, though, and shortly thereafter found a one-story penthouse also located in Carnegie Hill. Corcoran quickly made an offer, and it was accepted.
“I never thought I would ever leave,” Corcoran said of the duplex. “It’s easy to spend money when you’re building a lifelong dream. For me, real estate is emotional.”
Update: This story was updated on May 8, 2025 with listing photos of the penthouse at 1158 Fifth Avenue.
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