Turns out, being debt-ridden and in danger of foreclosure — as well as associated with a disgraced comedian — did little to dent the sale price of Bill Cosby’s Upper East Side townhouse.
Cosby sold his property at 18 East 71st Street for $28 million, the New York Post reported. The seven-story residence traded hands less than two months after it hit the market and for only $1 million below the $29 million asking price.
The identity of the buyer was not disclosed. The deal, which works out to $2,154 per square foot, was first reported by Realtor.com.
Cosby put the property on the market in September, about nine months after lender First Foundation Bank accused Cosby of defaulting on a $17.5 million loan tied to the 13,000-square-foot home. The bank alleged he stopped making payments on the debt and owes more than $300,000 in property taxes.
The sale staves off the foreclosure proceedings initiated against Cosby.
Cosby and his wife, Camille, bought the limestone mansion in 1990 for $6.3 million. Known as the Luyster Mansion, the residence was built in 1899 and is full of period flourishes, such as mahogany floors and an original elevator that connects nearly every level.
The six-bedroom property features a dining room that seats 30, multiple suites, a roof garden and a parlor level for entertaining.
Corcoran’s Adam Schneider had the listing, which marked the first time the property hit the market in more than 35 years.
In April, Cosby listed another townhouse, a four-story property at 243 East 61st Street, once used by his late son Ennis, for $7 million. That asking price was reduced to $6.75 million in July.
CitiMortgage accused Cosby and his wife of defaulting on a $4.2 million loan tied to that home and is pursuing foreclosure there, too.
Cosby’s sexual assault conviction was overturned in 2021, but he continues to face claims, including one in January accusing the actor of drugging and sexually assaulting a 15-year-old in Las Vegas in the 1980s.
Bill and Camille stay out of the spotlight and primarily live outside Philadelphia, where they paid $225,000 for a suburban estate in the 1980s before “The Cosby Show” exploded the comedian’s profile.
— Holden Walter-Warner
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