The Real Deal New York

Janna Bullock faces foreclosure on Park Avenue digs

Russian real estate mogul accused of not ponying up common charges

April 26, 2013 01:30PM
By Katherine Clarke

Janna Bullock and the Park Avenue Court

Russian mansion flipper Janna Bullock has been accused of money laundering and organizing horse-killing safaris for wealthy huntsmen. Now, she is being accused of not paying more than $40,000 in common charges for her Park Avenue condominium.

Bullock is in a face-off with the board of managers at the white-glove Park Avenue Court condominium at 120 East 87th Street; the board claims she owes $41,579 in common charges, assessments and late charges, and wants to evict the developer from the building’s 2,500-square-foot penthouse, which she owns. An attorney for the board did not immediately return a request for comment.

Bullock denied the majority of the allegations against her in an answer filed to the board’s complaint, contained in a foreclosure action filed last fall. She could not immediately be reached to comment on the case.

Bullock purchased the property for $3.25 million in 2003, a year before she began a townhouse flipping streak, public records show. The mogul bought her first Manhattan townhouse flipping project, the old New York Observer building at 54 East 64th Street, for $9.5 million and sold it a year later for $18.74 million.

Bullock, also an art collector and socialite, took a break from the public eye from 2010 to 2012 so she could address allegations of money laundering against herself and former husband Aleksei Kuznetsov in the Russian press, the New York Times reported.

The glamorous mogul recently sold a townhouse project at 12 East 82nd Street for $15 million. An adjacent property at 14 East 82nd Street, which Bullock had listed for $25 million, was pulled from the market last week.

While details of Bullock’s Park Avenue penthouse were not available, the building is well known. It was constructed in 1972 as a Gimbel’s department store and converted in condos in 1989. Amenities include a gym, a swimming pool and a yoga and pilates space.

  • http://twitter.com/Eldorrado Chicago Real Estate

    Alexis Eldorrado
    Eldorrado Chicago Real Estate
    http://www.Eldorrado.com
    …………….and I thought we flipped well in the downtown Chicago real estate luxury market. ……………wow!!………..very impressive flips. Unfortunate for the bad press but bad things can happen to good people too.

  • manhattanmarg

    Park Avenue Court is *not* on Park Avenue.

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