Bill Cosby's $7 Million Townhouse Removed from Market After Selling New York Home for $28 Million

Bill Cosby's New York City townhouse, previously listed for $6.99 million, has been withdrawn from the market after eight months amid ongoing foreclosure proceedings. The six-bedroom property on East 61st Street was one of two homes threatened by foreclosure and had its price reduced to $6.75 million in July before being delisted on December 3.

The removal comes shortly after Cosby, 88, sold another Manhattan residence for $28 million, closing the deal on November 14. That East 71st Street home, originally listed at $29 million, was purchased by the Cosbys in 1990 for $6.3 million. The smaller East 61st Street townhouse was acquired in 1980 for $1.2 million.

Both properties were targeted for foreclosure after the couple allegedly defaulted on loans. Citi Mortgage claimed Cosby failed to repay a $4.2 million loan on the smaller home, leaving $3.7 million in principal plus interest and fees. Reports indicate this home was mainly used by Cosbys late son, Ennis.

Meanwhile, First Foundation Bank alleged the Cosbys defaulted on $17.5 million in loans for the larger property, including a $12.25 million loan from 2010 and a $5.25 million loan from 2014. The bank stated the couple ceased payments on June 1, 2024, and owed over $300,000 in property taxes, with a repayment deadline of December 12, 2024, which was unmet.

The delisting may be linked to the recent $28 million sale, potentially avoiding foreclosure on the smaller townhouse. It is not yet clear whether the property has a pending offer or if the sale influenced the removal.

Described as a "true architectural gem," the six-bedroom, multi-level townhouse spans 5,000 square feet, featuring traditional New York elegance, a private backyard with a fire pit, a Juliet balcony, floor-to-ceiling windows, and modern amenities including a stainless steel kitchen and one of the city's earliest residential elevators. The home also includes a basement with laundry facilities and storage space. While largely unoccupied, the property has been carefully maintained.

The foreclosure proceedings are among numerous legal challenges Cosby has faced, including convictions for sexual assault that were later overturned. The Cosbys now primarily reside in a suburban Philadelphia home purchased in 1983 for $225,000, featuring seven bedrooms, 6.5 bathrooms, and extensive privacy measures.

Despite the overturned conviction, Cosby has faced additional sexual assault lawsuits in Nevada and Las Vegas, involving allegations spanning decades. Some cases are ongoing following judicial rejection of dismissal attempts.

Author: Grace Ellison