"The queen of real estate, Barbara Corcoran, has officially parted ways with her New York City penthouse, closing for $13.5 million. The property sparked a bidding frenzy when it hit the market in May, with offers flooding in almost instantly. A deal was reached just one day later, with the buyer offering $1.5 million above the asking price. The Corcoran Group founder netted a paper profit of $3.5 million, having originally bought the iconic penthouse in 2015 for $10 million."
"She disclosed that $2 million was spent on renovations after the purchase, which brings the true profit to roughly $1.5 million. Corcoran first set foot in the Upper East Side apartment in 1992 while working as a messenger. After delivering a letter to the unit, she developed a strong attachment to the home. At the time, it was not on the market and far too expensive for her to consider."
Barbara Corcoran sold her two-floor, eleven-room Upper East Side penthouse for $13.5 million after a one-day bidding frenzy that produced offers above asking. She originally bought the unit in 2015 for $10 million and invested $2 million in extensive renovations, yielding a true profit of roughly $1.5 million. The renovations included reversing upstairs and downstairs layouts, redesigning a greenhouse into a hybrid indoor-outdoor dining area, and installing a modern chef's kitchen. Corcoran and her young daughter temporarily lived on the terrace while the work proceeded. The property features floor-to-ceiling windows and panoramic views.
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