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The 8,600-square-foot mansion known as Crystal Palace is a monument to Shanghai’s tumultuous swings from capitalism to communism, back to somewhere in between. Built for hat merchant Ye Fukang just months before Mao Zedong took power in 1949, it’s now on the market for 160 million yuan, or around $24 million.
Mr. Ye and his six wives survived communist rule until 1966, when Mao’s Red Guards tossed them out to use the house as a…