T
wo properties tied to Chinese billionaire Guo Wengui have resurfaced for sale, each with a complex history that has driven down their prices significantly. Guo's Manhattan penthouse at the Sherry-Netherland is now listed for $19.5 million, a steep drop from its initial 2015 price of $86 million and even more recent listing price of $24 million.

    The 15-room, 7,000-square-foot home boasts six bedrooms, panoramic views of Central Park, and three terraces, but its grandeur has been marred by fire damage from a mysterious blaze that erupted during Guo's arrest in March on charges related to a billion-dollar fraud scheme. Sources suggest the fire may have been set remotely.

    Guo was convicted in July of defrauding his online followers through an investment and cryptocurrency scheme, using some of the funds to purchase a $26.5 million mansion in New Jersey, which is also now for sale. His sentencing is scheduled for January 6, 2025, with possible decades in prison or deportation back to China.

    The penthouse remains in "white box" condition despite restorative work on the fire damage, which appears in the listing's marketing images. Guo had hoped to flip the property soon after buying it. The current listing is held by Serena Boardman of Sotheby's International Realty.

    Across the Hudson River, Guo's 50,000-square-foot Crocker Mansion in Mahwah, New Jersey, has been relisted for $33 million. Originally built in the early 1900s by railway heir George Crocker, the estate features 58 rooms, including 21 bedrooms and 29 bathrooms, as well as a spa, billiards hall, and tearoom.

    The property was seized by federal authorities last year as part of their case against Guo, and it is likely still under government control. If it sells for its asking price, the deal would equate to roughly $660 per square foot. The estate is privately listed by Diane Cookson and Carl Gambino of Compass.