Two properties linked to the Chinese billionaire and convicted fraudster Guo Wengui have reappeared on the market, showcasing their tainted histories despite not offering significant price reductions.
Guo’s lavish full-floor penthouse at Manhattan’s Sherry-Netherland, previously his luxurious residence, is now listed for $19.5 million, a significant drop from its original 2015 listing price of $86 million and even the recent $24 million price tag just two months ago.
Purchased for $67.5 million nearly a decade ago, the 15-room, 7,000-square-foot home features six bedrooms, panoramic views of Central Park, and three terraces. However, the property suffered fire damage from a mysterious blaze that occurred during Guo’s arrest by FBI agents last March on charges related to a billion-dollar fraud scheme.
Sources suggest the fire may have been set remotely, adding intrigue to a property rumored to have been equipped to record its guests.
In July, a Manhattan court convicted Guo of defrauding his online followers through an investment and cryptocurrency scheme. The funds were used to purchase a $26.5 million mansion in New Jersey, now also for sale, and a $37 million yacht. Guo was found guilty on nine of the 12 criminal charges, including racketeering and money laundering.
His sentencing is set for Jan. 6, 2025, with the potential for decades in prison or deportation to China, where he faces further charges.
Despite some restoration work to address the fire damage, the penthouse remains in “white box” condition, as depicted in the listing’s marketing images. Guo, also known as Ho Wan Kwok or Miles Kwok, had intended to sell the property shortly after purchasing it.
Serena Boardman of Sotheby’s International Realty is handling the listing. The brokerage has not yet responded to a request for comment.
Meanwhile, Guo’s 50,000-square-foot Crocker Mansion in Mahwah, New Jersey, has been relisted for $33 million. Guo acquired the estate, originally built by railway heir George Crocker in the early 1900s, for $26.5 million in 2021, marking New Jersey’s most expensive home sale of that year.
Spanning 12 acres along the Ramapo Mountains, the brick megamansion boasts 58 rooms, including 21 bedrooms, 29 bathrooms, a spa, a billiards hall, and a tearoom. The grounds feature a tennis court, fountains, and an eight-car garage.
The estate was seized by federal authorities last year as part of the case against Guo. The current seller remains unknown but is likely still under government control.
If the property sells for the asking price of $33 million, the deal would amount to approximately $660 per square foot. The listing is handled privately by Diane Cookson and Carl Gambino of Compass and the Fox & Stokes team, who have not responded to inquiries regarding the listing.
