The Real Deal New York

Townhouse flipper lists UES townhouse for $25M

Home, in need of complete reno, first hit the market in 2007

November 13, 2012 10:30AM
By Katherine Clarke

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Janna Bullock and the townhouse at 14 East 82nd Street

The Russian-born townhouse flipper Janna Bullock may be trying to take advantage of the surging interest in luxury properties by bringing several townhouses to market, one of which she pulled from the market in 2008.

Bullock has relisted a landmarked limestone mansion at 14 East 82nd Street, according to Streeteasy.com and is planning to list another property next door at 12 East 82nd Street, her broker said. The listing brokers are Nikki Field and Patricia Wheatley of Sotheby’s International Realty.

“Our private home market has returned to the strength of the pre-Lehman collapse era,” Field told The Real Deal. “The rising demand from our international buyers for the finest available residences in the Manhattan market is unprecedented. Frankly, with the current inventory shortage, this is the best opportunity for a strong sale. “

If the property at 14 East 82nd Street sells, it could mark a new chapter for the Beaux-Arts mansion, which first hit the market five years ago. Bullock purchased the home in 2005 for $12.2 million and placed it back on the market in the fall of 2007, asking $25 million. Field previously told The Real Deal that Bullock had received offers for $23 and $24 million but declined them. She was then reluctant to relist the property the following year, amid the fallout from the crash of Lehman Brothers.

The home, which requires a complete renovation, was designed by C. P. H. Gilbert in 1903. It features a bow-front limestone façade and a Juliet balcony. The property has 16 rooms. Basic electrical and plumbing work has been completed, according to the listing.

As previously reported, Bullock listed a yet-to-be-built new development townhouse for $40 million at 34 East 62nd Street in April. She has since taken the property off the market. The site is the former location of a townhouse blown up by Nicholas Bartha, a doctor who is believed to have destroyed the home in order to avoid selling it and dividing the proceeds with his ex-wife. He was inside the home when the explosion occurred in 2006; He later died from his injuries.

Bullock purchased the second property for $14 million in 2006, records show. It will hit the market later today with a price tag of $15 million.

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