Flipper Janna Bullock faces foreclosure on UES townhouses

Bank that holds the mortgage alleges she skipped payments for four consecutive months

New York /
Jun.June 18, 2014 03:10 PM

Manhattan socialite and noted mansion flipper Janna Bullock has been accused of money laundering, defrauding Cypriot banks and organizing safaris targeting mustangs. Now, she is being accused of skipping out on loan payments on a pair of Upper East Side townhouses, legal documents show.

The Russian developer and art scene regular is being sued by Eastern Savings Bank after failing to make scheduled payments on a $10 million mortgage tied to the townhouses. The bank alleges Bullock stopped paying in February and is asking the courts to foreclose on the properties.

Eastern Savings is demanding that Bullock, who signed as guarantor for the loan in 2006, immediately pay the outstanding principal balance of $7 million, accrued interest and the bank’s legal fees. The total owed to Eastern Savings is $7.2 million, according to documentation filed as an exhibit.

The two buildings named in the suit are 12 and 14 East 82nd Street. Bullock sold number 12 in January 2013 for nearly $19 million after purchasing it for $12 million in 2006. Bullock still owns 14 East 82nd Street, which listed for $20 million in 2009. She picked up that building for $12.2 million in 2005.

This is not the developer’s first foreclosure battle. Last year, Park Avenue Court condominium sought to boot Bullock from her $3.25 million penthouse after the board accused her of ducking $40,000 in common charges, as The Real Deal reported at the time.

In January, Russian prosecutors issued a warrant for Bullock’s arrest as part of a civil suit that alleges that she defrauded banks in Cyprus, the New York Post reported at the time. Her ex-husband is facing extradition to Russia for his role in the alleged scheme, but the Department of Justice is unlikely to serve Bullock a warrant because she is a U.S. citizen.


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