In a significant real estate move, Bill Cosby has sold his Manhattan townhouse for a reported $28 million. This sale comes after the property was reportedly close to facing foreclosure, marking a dramatic turn of events for the controversial comedian.
A Profitable Sale Amidst Financial Woes
The townhouse, located on 71st Street on Manhattan’s east side, was initially listed by Cosby in September for $29 million. The final sale price of $28 million, closing on November 9, still represents a substantial profit. Cosby originally purchased the property in 1990 for $6.3 million.
However, the sale was crucial in helping Cosby avoid foreclosure. According to reports, he and his wife, Camille, had taken out significant loans against the property, totaling $17.5 million. First Foundation Bank filed a lawsuit in December 2024, accusing the couple of defaulting on these loans, with alleged missed payments starting in June 2024.
Multiple Loans and Property Tax Issues
The situation was further complicated by claims of unpaid property taxes, reportedly exceeding $300,000. Adding to the financial strain, CitiMortgage also claimed Cosby defaulted on a separate $4.2 million loan, with the couple owing an additional $3.7 million plus interest and fees on that debt.
The property had been on the market since April, initially listed for $6.9 million and later reduced to $6.75 million before the higher-priced sale was finalized. This $28 million transaction effectively resolved the immediate threat of foreclosure.
Cosby has largely remained out of the public eye since his 2021 conviction for sexual assault was overturned by the Pennsylvania State Supreme Court. Despite these legal and financial challenges, the sale of the townhouse provides a significant financial resolution.
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