Bill Cosby Lists His Second New York Townhouse for $29 Million as Foreclosure Looms

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https://www.realtor.com/news/celebri...osure-lawsuit/

Beleaguered Hollywood star Bill Cosby has quietly put the second of his two New York City townhouses on the market for $29 million—eight months after he was accused of defaulting on a $17.5 million loan taken out against the property.

Cosby, 88, listed the seven-story, six-bedroom townhouse on East 71st Street on Sept. 14, having already listed a second property on East 61st Street for $7 million back in April. The price on his second New York home was slashed to $6.75 million in July.

The actor and former TV host has allegedly defaulted on loans that were taken out against both properties, per his lenders.

In a lawsuit filed with the Manhattan Supreme Court on Dec. 31, Cosby's lender on the 71st Street property, First Foundation Bank, 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.

As first reported by Our Town, the $17.5 million figure cited in those documents comes from two loans taken out on the home: a $12.25 million loan in 2010 and a $5.25 million loan in 2014.

Cosby purchased the sprawling home for $6.3 million in 1990, according to property records, and it served as his primary residence for many years.

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 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 was primarily used by Cosby's son, Ennis, who was murdered in Los Angeles in 1997.

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 past 35 years, with the listing, which is held by Corcoran, noting that this is the first time the historic home has 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 says 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 adds.

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 goes on.

"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 notes. "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 guest room make this an intimate and tranquil retreat, as perfect as it is distinct from the ornate character of the six floors below," the description states.

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.

While Cosby has not commented on his decision to list this property—or his 61st Street townhouse—it may well be that he is trying to sell the dwellings himself before they are foreclosed on by his respective lenders.

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 sexµal 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."

While Cosby's 2018 conviction was overturned, he has since faced several other allegations and lawsuits.

In June 2023, nine women filed a sexual assault lawsuit against the actor in a Nevada court, including former supermodel Janice Dickinson, accusing him of using his "enormous power, fame and prestige" to isolate and abuse them.

Then, in January, he was accused by another woman of drugging and sexually assaulting her in Las Vegas in 1986, when she was just 15.

Cosby attempted to have the lawsuits dismissed. However, his argument was thrown out by a judge in September.

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HOw many houses does he have? He and wife live in Philadephia but have 2 unused homes in NY. The upkeep for the houses would wear me out. I suppose maids and servants help out.