Disgraced Hollywood actor Bill Cosby has saved at least one of his New York City residences from going into foreclosure—after selling the historic townhouse for a staggering $28 million, less than two months after he put it on the market.
Cosby, 88, initially put the historic seven-story, six-bedroom dwelling, which is located on East 71st St., on the market for $29 million in September, having already listed his other New York abode for the much lower price of $7 million.
Now, Realtor.com can exclusively reveal that the actor has closed on a sale of the pricier property, with records indicating that he accepted a sky-high offer of $28 million for the East 71st St. townhouse. The deal officially closed on Nov. 9.
While Cosby did have to dip below his original asking price, he still walks away with a huge profit, having purchased the abode for $6.3 million back in 1990.
The offer also far outweighs the $17.5 million in loans taken out against the property, which the actor and his wife, Camille, are accused of defaulting on in a lawsuit filed with the Manhattan Supreme Court on Dec. 31 by their lender, First Foundation Bank.
In the filing, First Foundation sought to force the sale of the lavish abode to recoup at least some of the money that its lawyers say the actor has failed to repay.
According to that lender, Cosby defaulted on two loans taken out against the property: a $12.25 million loan in 2010 and a $5.25 million loan in 2014.
First Foundation alleges that the Cosbys stopped repayments on their loan on June 1 and that the couple were served with a default notice on Nov. 18. That notice stated that they had “failed” to keep up with the monthly repayments on the loan, while also failing to pay property taxes. First Foundation says that more than $300,000 in property taxes are now owed on the dwelling.
Cosby and his wife—who are represented by an LLC—were given until Dec. 12, 2024, to repay the money owed. However, First Foundation claims that no payment was made.
Meanwhile, the former “Cosby Show” star is also facing foreclosure on his second New York abode, which he bought for $1.2 million in 1980, with a second lender, CitiMortgage, accusing him of defaulting on a $4.2 million loan that is tied to the four-story dwelling.
CitiMortgage claims that Cosby and his wife owe $3.7 million in principal on the loan, as well as interest and fees.
Previous reports indicate that this property, which is located on East 61st St., was primarily used by Cosby’s son, Ennis, who was murdered in Los Angeles in 1997.
Cosby listed that second townhouse for sale in April with an asking price of $6.9 million, however that price was slashed to $6.75 in July. Records show it is still on the market for the reduced price.
Both properties were listed with Adam Schneider of Corcoran Westside Columbus.
The 71st Street townhouse—which is known as the Luyster Mansion—has been used by Cosby and his wife as their primary New York City residence for the last 35 years, with the listing noting that it was the first time the historic home had been put on the market in more than three decades.
“Inspired by late Gilded Age architecture and completed in 1899 by the celebrated designer John Duncan,” the description said of the property. “Built for durable beauty in hand-carved limestone and crowned with soaring two-story copper mansards, the seven-floor, 13,000-square-foot residence embodies the elegance of the neo-French Classic style.”
The property certainly boasts many elegant design features rarely found in modern-day dwellings, including a Carrara marble vestibule, a primary parlor with inlaid mahogany floor, and 11 fireplaces that are spread throughout the living spaces and bedrooms.
Cosby’s home also comes equipped with an “original mahogany-and-bronze elevator [that] connects nearly every level of the house,” the listing added.
For those with a fondness for fine dining, the home’s formal dining room—which is found on the lowest floor of the house—will serve as the perfect space for elegant parties, with ample room to “comfortably seat” up to 30 people.
“The adjoining kitchen, designed by Swiss craftsman André Liardet during the home’s conversion from the Lycée School, features terra cotta tile, wainscoting, beveled glass, and more than 30 feet of cabinetry and counter space,” the description added.
“A double-sided restaurant-grade stove with rotisserie oven and additional refrigeration makes this a kitchen equally suited for family meals or large-scale entertaining.”
Two floors above the dining room and kitchen is the “parlor level,” which features two parlor spaces, both of which have their own fireplace, as well as mahogany floors.
“A wide hall links the spaces, and an efficiency kitchen supports less formal entertaining,” the listing noted. “Accessing the parlor level, Carrara marble stairs rise with mahogany bannisters, reinforced at the landings with wrought iron bars that provide both safety and beauty—an architectural detail that reflects the craftsmanship carried throughout the home.”
The home’s primary suite can be found on the floor above, which is referred to in the listing as the “chamber level” and houses an elegant bedroom, as well as two full bathrooms: “One with Rosso Levanto marble, soaking tub, and double sink; the other with its own soaking tub, double vanity, and glass-enclosed multi-directional shower heads.”
Above the primary chamber level are additional living suites, as well as a dressing room and an “office option,” while at the very top of the house is a “private level” that boasts a study and an additional guest room/office with two fireplaces.
“Skylights and a private terrace off the guestroom make this an intimate and tranquil retreat, as perfect as it is distinct from the ornate character of the six floors below,” the description stated.
Finally, the home features a stunning roof garden level that “crowns the mansion” and offers the perfect spot for sunbathing, gardening, or for hosting outdoor soirees in the summer.
The foreclosure cases mark the latest in a long line of legal woes for Cosby, who has been accused of sexual assault, rape, and sexual harassment by more than 60 women in recent years.
In 2018, he was found guilty of three counts of sexual assault and sentenced to three to 10 years in prison. He served three years before his conviction was sensationally overturned by the Pennsylvania Supreme Court in 2021.
Since then, it’s understood that Cosby and his wife—who remained with him throughout his sexual assault scandal—have been living primarily at their home in a suburb of Philadelphia.
The couple purchased that property for just $225,000 in 1983, shortly before “The Cosby Show” began airing. Set on a sprawling 3-acre lot, the dwelling boasts seven bedrooms and 6.5 bathrooms.
Google Maps imagery shows the property’s driveway barricaded with gates and traffic cones, with a large sign reading: “Private property. No trespassing.”