Tuesday, December 26, 2006

She keeps it in her checking account?

As Londoners may talk about the weather, New Yorkers talk about real estate. With real estate goes the name Barbara Corcoran, founder of the real estate brokerage, the Corcoran Group. She sold it for $66 million. What did it feel like to be suddenly $66 million wealthier?

"The best thing that happened was when I went to my Citibank cash machine on Madison Avenue and 90th Street in my neighborhood two days after the sale. I went to get my $200 out that I get out every two weeks for my $200 pocket cash, and I always push the button, 'do you want a receipt?' 'Yes.' And when the receipt came out, my account balance was over $50 million and that was thrilling.

I showed it to everybody else in the cash line. I couldn't contain myself. I said, 'Look at this, look at this.' I mean, I was looking around, it was such a weird feeling, who do you show it to? Nobody was with me that I knew so I showed it to everybody there. I think they thought I was a nut job, a New York nut.

I immediately went next door and bought myself a big breakfast -- eggs Benedict, fresh squeezed orange juice and a side order of toast and coffee. I went whole hog for breakfast with that little receipt in my hand. And I gave the waitress a $20 tip.

I kept that receipt, needless to say. I have it at home in a little picture frame in my clothes closet in my bedroom. I smile at it every morning as I reach for my shoes."

[As told to Lauren Elkies]