It turns out that the townhouse at 12 East 82nd Street did not, in fact, sell for anything close to its $19 million asking price. An in-progress gut renovation and a missing rear wall proved daunting, even in this giddy trophy market.
When The Observer first learned that the five-story brick federal townhouse was in contract early this January, we were taken aback. We have, after all, seen a lot of bold asking prices and Janna Bullock, the Russian developer selling the place, is famously fearless when it comes to defending her real estate investments and her honor. But $19 million beggared belief. Assuming that the would-be owners had likely knocked the price down, we called Sotheby’s broker Nikki Field, who has the listing with colleague Patricia Wheatley.
You know that the luxury real estate market has reached a fever pitch when gutted townhouses with only three walls start selling for $19 million. True, it is the back wall that’s missing from 12 East 82nd Street, but backless townhouses don’t have the same allure as backless gowns.
The five-story brick federal townhouse is in contract for close to the $19 million ask, confirmed Sotheby’s broker Nikki Field, who has the listing with colleague Patricia Wheatley.
Russian developer Janna Bullock, the owner of the townhouse and its next-door neighbor, is not known for her timidity—last year she mounted an art exhibit at 14 East 82nd to strike back at all the nasty rumors that have been circulating about her in the Russian press. But it takes a certain kind of chutzpah to ask mint-condition prices for an empty shell. (A chutzpah, we might add, that has been amply rewarded.)