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Barbara Corcoran's $10M Manhattan Dream: 'Shark Tank' Star Snags Coveted Penthouse After 20-Year Wait

Barbara Corcoran’s $10M Manhattan Dream: ‘Shark Tank’ Star Snags Coveted Penthouse After 20-Year Wait

Real Estate Mogul Barbara Corcoran Acquires Dream Home After 20-Year Wait

Barbara Corcoran, renowned real estate investor and “Shark Tank” judge, recently shared the remarkable story of how she acquired her dream home in Manhattan. The journey began in 1992 when Corcoran, working as a part-time messenger during a real estate downturn, made a delivery to a stunning penthouse on the Upper East Side.

Captivated by the property’s lush terrace and French doors, Corcoran expressed her interest in purchasing the apartment if it ever became available. Little did she know that this chance encounter would set the stage for a two-decade-long pursuit of her ideal home.

More than 20 years after that initial visit, Corcoran received a call from the penthouse owner, offering her the opportunity to purchase the property. Seizing the moment, she acquired the apartment for $10 million, investing an additional $3 million in renovations.

The 1158 Fifth Avenue penthouse, once featured in The New York Times as a “Garden in the Sky,” boasts breathtaking views of Central Park and the George Washington Bridge. Originally listed for $14.5 million in 2013, the property underwent price reductions before Corcoran secured it for $10 million in 2015.

Corcoran attributes her success in acquiring the penthouse to the power of visualization. She emphasizes the importance of dreaming and imagining oneself in desired situations, particularly in challenging real estate markets. This philosophy has been a driving force throughout her career.

In a conversation with “Shark Tank” co-star Kevin O’Leary, Corcoran highlighted the significance of dreaming over relationships in real estate transactions. Despite the apartment’s current estimated value of $12 million, slightly below her total investment, Corcoran views it as a worthwhile long-term investment and her ideal living space.

Corcoran’s unique approach to real estate involves identifying neighborhoods she loves and directly approaching homeowners. This strategy has proven successful in other acquisitions, including a mobile home in the Palisades that she secured despite initial resistance from the owner.

For Corcoran, the home-buying process is deeply emotional and romantic, reflecting her connection to the properties she pursues. Her patience and persistence in acquiring her dream penthouse serve as a testament to her belief in the power of visualization and determination in real estate.