B
arbara Corcoran, the real‑estate entrepreneur known from television, closed a lucrative transaction for her Fifth Avenue penthouse. The Manhattan residence, listed at $12 million, attracted a bidding war and secured a final sale of $13.5 million—$1.5 million above the asking price—within 24 hours of hitting the market, according to Realtor.com. Corcoran had purchased the 4,600‑sq‑ft unit in 2015 for $10 million and invested an additional $2 million over the past twenty years in a comprehensive renovation that reconfigured the floor plan, installed a chef’s kitchen, and converted a greenhouse into an indoor‑outdoor solarium. The penthouse features five bedrooms, five full baths, two half baths, a formal dining room, a library, and a landscaped rooftop terrace, all connected by the original curved staircase. High ceilings and sweeping views of Central Park add to its allure.

    The property sits on the upper floor of the 1158 Fifth Avenue building, a pre‑war cooperative designed in 1924 by C. Howard Crane and Kenneth Franzheim. Residents enjoy 24‑hour doorman service, a live‑in manager, and a fitness center. Corcoran’s renovations were undertaken without an immediate intent to sell; she described the work as an emotional investment in a lifelong dream.

    After the sale, Corcoran and her husband, retired Navy captain Bill Higgins, relocated uptown to a single‑story condo better suited to Higgins’ mobility needs. Their original plan had been to acquire the Paul Newman‑owned Fifth Avenue co‑op, which also sold well above its asking price.

    The sale of Corcoran’s penthouse sparked interest in neighboring units. The adjacent duplex, listed for $11.5 million in September, has yet to generate comparable buyer activity, and its price was recently reduced to $10.5 million. The market’s swift response to Corcoran’s listing underscores the desirability of well‑renovated Upper East Side properties.