Chinese fugitive’s Sherry-Netherland pad has new brokers — and another price cut

The apartment is now asking $67M

New York /
Nov.November 14, 2018 02:35 PM

Guo Wengui and the Sherry-Netherland penthouse at 781 Fifth Avenue (Credit: Getty Images and Douglas Elliman)

Fugitive Chinese billionaire Guo Wengui has exiled Brown Harris Stevens’ Kathy Sloane from his Sherry-Netherland penthouse.

Guo, who has been living in self-imposed exile, has booted Sloane and hired Douglas Elliman’s Richard Steinberg and Istvan Ritz to market the apartment. He also dropped the asking price $1 million to $67 million.

The 18th-floor co-op at 781 Fifth Avenue was first listed in 2015 for $86 million. It was later re-listed at $78 million and then dropped to $68 million in May.

“It is a beautiful apartment; a priceless piece of art that cannot be duplicated and we feel confident that we will find a buyer,” Steinberg said.

Sloane did not immediately respond to request for comment.

Also known as Miles Kwok, Guo made his fortune in real estate in China before fleeing the country in 2015. The same year, he bought the Sherry-Netherland co-op, which was pieced together out of smaller apartments over the years, for $70 million. He has been living there in self-imposed exile.

The Sherry-Netherland apartment has seven bedrooms, eight bathrooms and a solarium. The 38-story building dates back to 1928. The new listing notes that an updated description and floor plan will be coming soon.

Guo has accused government and business figures of corruption via social media — and pooled a $150 million war chest to cover legal fees and other expenses as he seeks asylum in the US. Chinese officials have dismissed his claims, and Guo also faces rape allegations made by a former employee, which he said are fictitious.


Related Articles

arrow_forward_ios
422 E. 84th Street (Google)
Uptown chiropractor, diamond dealer battle over $349K in rent on UES
Uptown chiropractor, diamond dealer battle over $349K in rent on UES
The property on 73rd Street formerly owned by Grace Kelly. (Getty, StreetEasy)
UES townhouse rumored to have been owned by Grace Kelly sells for $25M
UES townhouse rumored to have been owned by Grace Kelly sells for $25M
Firefighters battling a 11-alarm fire at a chemical plant in Passaic. (Photo by Tayfun Coskun/Anadolu Agency via Getty Images)
Bergen County residents told to close windows after fire at chlorine plant
Bergen County residents told to close windows after fire at chlorine plant
1428 N Genesee Drive and Freddie Krueger (Realtor, Wikimedia)
‘A Nightmare on Elm Street’ home sells for $3M
‘A Nightmare on Elm Street’ home sells for $3M
Discovery at West Road on 9404 West Road, Houston and Haven at Eldridge on 13115 Whittington Drive and McCann Realty Partners Matt Akin (Pegasus Residential, McCann Realty Partners)
McCann Realty Partners swings two Texas multifamily deals
McCann Realty Partners swings two Texas multifamily deals
(Illustration by The Real Deal)
More than 14K LI residents in mortgage delinquency
More than 14K LI residents in mortgage delinquency
9811 Copper Creek Drive, Austin with Tides Equities’ Sean Kia and Ryan Andrade (Tides Equities, Google Maps)
Tides Equities snags another Texas multifamily property
Tides Equities snags another Texas multifamily property
Liz Nunan, ceo, Houlihan Lawrence (Houlihan Lawrence, iStock)
Lower Hudson Valley notched home sale growth in 2021
Lower Hudson Valley notched home sale growth in 2021
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...