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.


Related Articles

arrow_forward_ios
HFZ's Ziel Feldman (The XI)
HFZ set to lose stake in $2B XI condo project
HFZ set to lose stake in $2B XI condo project
Witkoff Group CEO Steve Witkoff, Simon and David Reuben and The West Hollywood Edition (Getty, Witkoff)
Reuben brothers look to foreclose on Witkoff’s West Hollywood Edition
Reuben brothers look to foreclose on Witkoff’s West Hollywood Edition
Millions of homeowners remain vulnerable as forbearance winds down
Millions of homeowners remain vulnerable as forbearance winds down
Millions of homeowners remain vulnerable as forbearance winds down
Vanbarton Group's Gary M. Tischler and Richard Coles with 17 John Street (Google Maps)
Vanbarton forecloses on Prodigy’s FiDi co-working property
Vanbarton forecloses on Prodigy’s FiDi co-working property
Ron Burkle and Andrew Zobler with The NoMad New York. (Google Maps, Getty)
NoMad Hotel heads back to the auction block
NoMad Hotel heads back to the auction block
Maverick Real Estate Partners principal David Aviram and the buildings to be sold. (Rosewood Realty Group)
Part of Chaskiel Strulovitch’s Brooklyn portfolio to be sold at auction
Part of Chaskiel Strulovitch’s Brooklyn portfolio to be sold at auction
Sen. Brian Kavanagh (Getty, iStock)
New York votes to extend eviction ban through August
New York votes to extend eviction ban through August
Avishai Abrahami with Ziel Feldman and Nir Meir, and 500 Bailey Ave, Buffalo, NY; 707 Spence Lane, Nashville, TN; 1100 Milwaukee Avenue, South Milwaukee, WI (Getty, Google Maps, NY Supreme Court)
Ziel Feldman, Nir Meir accused of fraud over $30M loan
Ziel Feldman, Nir Meir accused of fraud over $30M loan
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...