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Yahoo
27-06-2025
- Business
- Yahoo
A Major Money Lesson Retirees Can Learn From Barbara Corcoran's Selling Her Dream Home
'Shark Tank' host Barbara Corcoran is selling her dream home and retirees can learn important lessons from her decision. Corcoran, real estate mogul and investor on the hit show, 'Shark Tank,' has put her Fifth Avenue penthouse up for sale for $12 million. While Corcoran never thought she would leave the home, she's decided the time is right to move on and below we share the important reason behind that decision. Read Next: For You: Corcoran found her dream home by chance, long before she was capable of buying it. Corcoran told CNBC that she discovered the home in 1992 while delivering packages to keep her real estate company, The Corcoran Group, afloat. While delivering an envelope to the owner of the 4,600-square-foot penthouse apartment, Corcoran caught sight of the terrace through the French doors. She asked the owner that, if she ever decided to sell the apartment, she sell it to Corcoran. Discover Next: While Corcoran discovered the apartment during the early days of her business, Corcoran enjoyed immense success over the coming years and she gained notoriety. When the penthouse's owner was ready to sell in 2015, she remembered that conversation with Corcoran and called her. Corcoran and her husband, Bill Higgins, paid $10 million for the apartment and spent $3 million renovating it. The decision to sell a home you love is never an easy one and Corcoran told CNBC that she has a connection with all of the homes she buys, calling it an 'emotional love affair.' Corcoran purchases properties where she instantly feels she belongs and said she 'mourn[s] every move.' Though Corcoran, now age 76, renovated the apartment into a dream space that she never planned to leave, she explained that navigating the apartment's curved staircase is becoming more difficult for her and her husband, who's 80. So, it's time that they move on. According to Elle Decor, Corcoran received multiple offers for the penthouse. She priced it at less than the cost of its purchase and renovation, but a bidding war pushed the final price past the $12 million mark. The penthouse sold within 24 hours of being listed. There are a few important lessons here. The first is the fact that while letting go can be difficult, sometimes it's the only reasonable choice. Properties can contain many memories, but they're expensive to upkeep and maintain. Holding onto them when they're no longer practical can be a costly choice and as Corcoran demonstrated, letting go of them can be a smart personal financial decision. Corcoran's decision to sell the apartment also highlights the importance of knowing the real estate market when you decide to sell. Corcoran had put about $13 million into the apartment, but listed it for $12 million. Since it's a hot real estate market and she had a desirable property, competitive bidding drove the sale price up. And did you catch the lesson in Corcoran's story about how she found the apartment in the first place? It's to dream big about your future. Corcoran was working as a messenger when she found the apartment and she was doing so to keep her business afloat. Despite the fact that she couldn't have afforded the apartment then, she was forward-thinking and willing to dream enough that she asked the owner to call her if they ever sold it. Years later, Corcoran's vision and gumption paid off. Don't be afraid to dream big and envision your financial future. Sometimes the slimmest chances work out, as they did with Corcoran's dream apartment. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 10 Used Cars That Will Last Longer Than an Average New Vehicle I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money This article originally appeared on A Major Money Lesson Retirees Can Learn From Barbara Corcoran's Selling Her Dream Home
Yahoo
03-06-2025
- Business
- Yahoo
Popular California Diner Announces Sad Closure After 40 Years
A San Francisco dining staple closed last weekend after four decades in business. The Fog City Diner, which rebranded to simply Fog City in 2013, shut down on Friday after 40 years of service. Opened in 1985, the eclectic eatery was a beloved part of the San Francisco dining scene right up to its final day. 'With a heavy heart, I share some difficult news. Fog City has closed permanently with the last day of service being May 30, 2025,' the restaurant said on social media. "Thank You for the 40 years of patronage!" Longtime customers gathered in the comments section to mourn the abrupt shuttering of the Embarcadero institution. "THIS is how you announce it?? Fog City deserved better," one woman wrote. "Wow!! 8yrs spent out there tending bar!! Will miss everyone I worked with or served. Cheers!!" said a former employee. "This breaks my heart. Loved this spot and for so many years!! ❤️" added a third person. "What an amazing run, job well done friends! You have so much to be proud of," chimed in a fourth commenter. Co-founded by Bill Higgins and Bill Upson, Fog City was an immediate hit after opening four decades ago. In 1993, the establishment became somewhat famous when it was featured in the movie So I Married an Axe Murderer, starring Mike Myers, Nancy Travis and Phil Hartman. "The location of our FOG CITY restaurant is steeped in history — one that goes back way beyond the 1985 opening of the original Fog City Diner," says the diner's official website. "From feeding hungry sailors before they shipped out to serve in WWII to housing a railroad building servicing trains in San Francisco's first railways, and acting as a docking point for ships during the Gold Rush, this site has always been an integral part of the rich tapestry of San Francisco history." Popular California Diner Announces Sad Closure After 40 Years first appeared on Men's Journal on Jun 3, 2025
Eater
03-06-2025
- Business
- Eater
A Landmark Waterfront Restaurant Just Closed Out of the Blue
This is a curated list of the Bay Area's most notable and permanent restaurant and bar closures, with new updates published once a week. See a closing we missed? Then drop us a line . For more news, check out our list of restaurants that closed earlier this spring . June 3 EMBARCADERO — An iconic waterfront restaurant closed permanently on Friday, May 30. The team at Fog City, opened in 1985, let diners know of the shuttering in an Instagram post. No reason was given for the closure. The San Francisco Chronicle writes founders Bill Higgins and Bill Upson established the restaurant, then known as Fog City Diner, as a power player early into its tenure with chef Cindy Pawlcyn's (at the time) innovative small plates and Pat Kuleto design. OAKLAND — Friday, May 9 was the final day of service for chef Mohammad Abutaha's Teta Nahla. The 2123 Franklin Street restaurant was the founder of Shawarmaji's homage to his Jordanian grandmother. Abutaha told fans he hopes to reopen the hotspot for Arab soul food, including dishes like mansaf, once he's done giving his Shawarmaji restaurants his full energy. NOVATO — Another decades-old Bay Area standby, Marin County's Moylan's Brewery & Restaurant closed for good on Sunday, May 4. SFGATE reports the brewery collected more than 100 gold medals for its brews throughout its tenure. The spot, also beloved for Irish nachos and burgers, closed due to a changing beer landscape. 'You know, the beer business has changed — there's oversaturation — and our younger clientele is doing things differently now,' owner-brewer Brendan Moylan told the outlet. PETALUMA — The Press Democrat reports a three-year-old outpost of local chain Superburger closed on Thursday, May 29. The business's website let fans know the lease ended and the Sonoma County-based company simply chose not to renew. The other two outposts remain open. Sign up for our newsletter.
San Francisco Chronicle
01-06-2025
- Business
- San Francisco Chronicle
S.F. landmark Fog City diner closes permanently after 40 years on the Embarcadero
Fog City, the landmark restaurant that helped launch San Francisco's small plates movement and once defined the modern American diner, closed its doors Friday after four decades in operation. 'With a heavy heart I share some difficult news,' read a message posted by the restaurant on social media. 'Fog City has closed permanently with the last day of service being May 30, 2025. Thank you for the 40 years of patronage!' The closure was unannounced, and no reason was provided. Opened in 1985 as Fog City Diner by restaurateurs Bill Higgins and Bill Upson, the eatery became an immediate part of the city's dining landscape with its whimsical Pat Kuleto design and the inventive cuisine of chef Cindy Pawlcyn. Over the years, its neon signs and bold, globally inspired menu helped cement its place in San Francisco's culinary lore. Though Pawlcyn departed more than a decade ago, a 2013 overhaul saw the diner reimagined as simply Fog City, with a sleeker look by architect Michael Guthrie and a revamped kitchen led by chef Bruce Hill. Hill introduced dishes such as wood-oven roasted chicken with kimchi butter, utilizing his patented chef's press, a stainless steel tool that weighs down food to even out cooking times. Located at 1300 Battery St., the site itself has a layered history — once a roundhouse for trains, then a World War II-era cafeteria, and later a gathering spot for longshoremen. When it was still known as Fog City Diner, the restaurant appeared in Visa commercials, Farley comic strips, and the 1993 Mike Myers film 'So I Married an Axe Murderer.'
Entrepreneur
06-05-2025
- Business
- Entrepreneur
Barbara Corcoran's Beloved NYC Penthouse Is for Sale
Corcoran bought the 4,600-square-foot home in 2015 and is now listing it for sale after extensive renovations. "Shark Tank" star Barbara Corcoran, 76, first got a glimpse of her dream home in 1992. She was running Corcoran Realty at the time and was delivering letters for a messenger service as a side job to help pay her bills. One of her tasks was delivering an envelope to an apartment on the top floor of a building on Fifth Avenue and 97th Street. When Corcoran entered the apartment, she was impressed by its terrace with views of Central Park. She gave the home's owner her envelope and told her to call if she ever thought about selling the unit. "I walked in and saw this green, lush terrace through the French doors, and said to the lady who let me in, 'If you're ever going to sell this, would you sell it to me?'" Corcoran told The New York Times in a previous interview. Related: 'How Lucky Am I?': Tour Barbara Corcoran's $13 Million New York Apartment More than two decades later, she got a phone call: The home's owner was ready to sell. Corcoran bought the 4,600-square-foot two-story penthouse apartment for $10 million in 2015 and renovated it for an additional $2 million over the next 18 months. Now she's saying goodbye, she says, because of the apartment's curved staircase—she and her husband, Bill Higgins, 80, a former FBI agent, are finding the steps difficult to navigate. The pair found a new apartment, a single-story penthouse in the same neighborhood of Carnegie Hill, to call home. Corcoran told The New York Times on Tuesday that she has listed her penthouse for sale for $12 million, slightly lower than what she spent buying and renovating it, but a "fair price" in her estimation. Monthly maintenance fees cost around $11,000. Related: 'Better Negotiation Position': Barbara Corcoran Says Do These 2 Things When Asking For a Raise at Work The apartment has five bedrooms, five full baths, and two half baths. Corcoran completely revamped the space to include features like a library with a wood-burning fireplace, a butler's pantry, and a full kitchen off the terrace. "The apartment is laid out like a multilevel jewel box," Corcoran broker Scott Stewart, who is co-listing the apartment, told The Times. Corcoran has previously been enthusiastic about her love of the duplex apartment. In a 2022 interview with TikTok star Caleb Simpson, Corcoran said she sat in the apartment's kitchen every day and thought to herself, "How lucky am I?" "Never ever did I think I would have such a pretty kitchen," Corcoran told Simpson. Corcoran has recently lost a home due to fires. She revealed in January that fires in LA had destroyed her $800,000 mobile home in Tahitian Terrace Mobile Home Park. Corcoran previously disclosed that she makes about $4.5 million a year from her investments, including profits she has made as a "Shark Tank" investor for 16 years. The millionaire sold her real estate company, The Corcoran Group, for $66 million in 2001 and has since closed 650 deals on "Shark Tank." Related: 'I'm the Best Boss I've Ever Met': Barbara Corcoran Says It Takes One Principle to Be a Good Boss
