Russian developer to list UES house for $20M

TRD New York /
Oct.October 06, 2009 03:06 PM
Real estate developer Janna Bullock is putting her house at 14 East 82nd Street on the market

Now that she’s unloaded 9 East 67th Street, Russian beauty and real estate developer Janna Bullock is set to put another one of her townhouses on the market.

The house, at 14 East 82nd Street, will hit the market tomorrow with a price of $20 million, according to listing broker Nikki Field, a senior vice president at Sotheby’s International Realty.

Bullock — well-known for successfully renovating and flipping Manhattan townhouses — purchased the house in 2005 for $12.2 million, according to city records, and hosted the Kips Bay Decorator Show there in 2007.

Bullock first put the 21-foot-wide Beaux Arts mansion, designed in 1903 by C.P.H Gilbert, on the market for $25 million in the fall of 2007. She had offers for $23 and $24 million, Field said, but decided instead to take it off the market in February 2008 and remove the show-house remnants.

Then, with the post-Lehman fallout raging, Bullock was reluctant to put it back on the market.

Besides, she had her hands full with another one of her townhouses, 9 East 67th Street, which had been on and off the market for several years, at one point priced as high as $35 million. In January, Bullock finally sold the 13,000-square-foot, five-story townhouse for $24.9 million after getting permission from the city Landmarks Preservation Commission to recreate a stoop and grand entryway.

Russian-born Bullock has an MBA from Duke University. She made her name in New York by buying legendary townhouse 54 East 64th Street in 2004 for $9.5 million, renovating it, and selling it for $18.74 million a year later.

Bullock could not be immediately reached for comment. But her decision to put the East 82nd Street house on the market is a sign of renewed confidence in the market, Field said.

“She is someone who never would have listed in the last 12 months,” Field said. “She knows that the market has perked up.”

But she seems to be taking a different tack this time — instead of painstakingly restoring the house, she’s offering it as is.

“It needs a complete renovation,” Field said.

The six-floor house boasts a rare bow-front limestone façade and some 12,300 square feet of space, including a wine cellar. With views of the Empire State Building and the Metropolitan Museum of Art, it has an elevator, seven fireplaces, a garden and two terraces, as well as a “serpentine staircase” from the entrance gallery to the parlor floor.

As for the price, “we’re feeling quite confident that our asking price is appropriate,” Field said. “It’s a great number to get us offers.”

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