Imprisoned “Bill Gates of China” is buyer of $42M UES manse

Huang Guangyu was sentanced to 14 years in prison in 2010

TRD NEW YORK /
Mar.March 10, 2017 08:30 AM

A Chinese billionaire serving 14 years in prison for bribery and insider trading is the new owner of a $41.5 million Upper East Side mansion that sold earlier this week.

Huang Guangyu and his wife, Lisa Du Juan, bought the townhouse at 7 East 76th Street this week for just under $3,000 a foot, according to the New York Post. The seller was Japanese billionaire Bungo Shimada, as The Real Deal reported earlier this week.

“[Huang] is kind of like the Al ­Capone of China, running his business from behind bars,” a source told the Post.

Born in southern China, Huang built a massive electronics empire, Gome Electrical Appliances Holding Ltd., before moving into Chinese real estate. He was China’s richest person in 2006 and 2007, according to Forbes.

In 2008, he was arrested on suspicion of fraud and a Hong Kong court froze assets belonging to his company the following year. He was sentenced to prison in 2010.

Shimada originally listed the 14,000-square-foot home for $50 million, and relisted it for $45 million in January with Stan Ponte and Max Collins of Sotheby’s International Realty.

Known as the Clarence Whitman Mansion, the property is 24.5 feet wide and has seven bedrooms, two terraces and a rectangular staircase. It also has several secret passageways, including a secret door in the library that leads to a card room and a hidden entrance on the floor of a coat closet that goes to the basement. [NYP] — E.B. Solomont


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Vornado Realty Trust’s Steven Roth and 220 Central Park South (Credit: Roth by Bruce Glikas/FilmMagic; Jim.henderson via Wikipedia Commons)

Vornado inks another $52M closing at 220 Central Park South

Chrissy Teigen and John Legend with 374 Broome Street (Credit: Karwai Tang/Getty Images; Google Maps)

John Legend, Chrissy Teigen snap up another Nolita penthouse

Marc Jacobs with 68 Bethune Street (Credit: Jacobs by Randy Brooke/WireImage; Townhouse by Nest Seekers via StreetEasy)

Marc Jacobs gets what he paid for West Village pad: $10.5M

The Gretsch at 60 Broadway in Williamsburg. (Credit: Douglas Elliman via StreetEasy)

Williamsburg pad hits market for almost $9M

Dennis and Karen Mehiel with 3 East 95th Street (Photo by Will Ragozzino/Patrick McMullan via Getty Images; Sotheby's)

Carhart Mansion duplex returns to market after four years

arrow_forward_ios
Loading...