Real estate mogul Barbara Corcoran has proudly revealed a sneak peek inside her new $16 million Manhattan penthouse—while opening up about her plans to renovate the opulent space.
The “Shark Tank” star, 76, announced plans for a city relocation earlier this year when she listed her longtime penthouse for $12 million, noting at the time that her husband, Bill Higgins, was no longer able to navigate the staircase of the two-story unit.
Within one day, Corcoran had secured an offer on the property, which was officially sold for $13.5 million in October.
Just a few days after that, the real estate mogul closed on her new home, which is also located on the Upper East Side.
In a new TikTok video, Corcoran walked through the sprawling pad, showcasing the expansive floor plan, wooden flooring, and high ceilings.
She confessed that she is already “so in love” with her new home, which comes with enough space to host the entire “Shark Tank” crew.
However, the TV tycoon did confess that she wanted to make some major renovations to her home.
“Ready for a renovation? I’m so in love with my new apartment, and I can’t wait to give it a proper makeover,” she wrote in the caption of the clip. “I’m trying something new this time and bringing you along for the ride. So tell me, what would you change?”
The clip began by showcasing a living area with a cozy fireplace and wooden floor.
Corcoran then traveled through the rest of the property, revealing that the home boasts several rooms, one of which appears to be an office or library space and has massive built-in wall shelves.
The real estate guru also showcased the chef’s kitchen, which boasts white cabinetry and state-of-the-art appliances.
Corcoran then revealed one of the bathrooms, which features a marble vanity.
She then went to her wraparound balcony, which features several seating areas, flowers, and panoramic views of the city.
Her new purchase comes after she offloaded her iconic New York City apartment—securing an offer that was $1.5 million over her asking price.
Corcoran originally put the palatial penthouse on the market in May, with reports later revealing that she had secured a buyer for the property within just one day of listing it.
The deal was officially closed in October, with the listing updated to reflect the final sale price of $13.5 million.
On paper, this means that The Corcoran Group founder walks away with a $3.5 million profit, having purchased the historic dwelling for $10 million in 2015.
However, when putting the penthouse on the market, the businesswoman admitted that she had poured an estimated $2 million into renovating the property after buying it, meaning her final profit is closer to $1.5 million.
Still, it marks a lucrative milestone for Corcoran, whose connection to the home extends back long before she became its owner.
The savvy entrepreneur previously revealed that she first came across the penthouse dwelling on the Upper East Side in 1992, when she was working as a messenger to make ends meet and delivered a letter to the unit’s resident.
At the time, the opulent abode wasn’t on the market—nor would it have been anywhere close to fitting within Corcoran’s budget. Yet, she couldn’t get the property out of her mind.
“I thought, ‘My god, I’ve never seen anything as beautiful in my life,'” she told the New York Times.
So, she asked the then-owner to get in touch if she ever decided to sell her penthouse—a decision that she ended up making more than two decades later.
Luckily for Corcoran, the owner stayed true to her word to reach out when the home went on the market, and in 2015, the real estate legend paid $10 million for the property, which served as her primary residence for 10 years.
After snapping up the four-bedroom dwelling, the businesswoman began a gut renovation of the unit, explaining that, while the views and the location were perfect in her eyes, the aesthetic and layout of the home needed some major work to suit her lifestyle.
“Any house I ever bought, I bought the spot, not the space,” she told the Times. “You can control the space, but you can’t control the spot.”
In total, Corcoran estimates that she spent at least $2 million renovating the space, revealing that she and her daughter, Kate, who was 10 at the time, would sleep outside on the home’s expansive terrace while the work was being carried out.
While some might have questioned why Corcoran did not list the property for more than a break-even price—at best—the entrepreneur insisted that she never saw the dwelling as a lucrative investment opportunity, but rather a space in which to build the perfect family home.
