Bill Cosby lists Upper East Side townhouse for $29M
Bill Cosby is attempting to sell his Upper East Side mansion for $29 million amid financial troubles and accusations of sexual assault.
Disgraced actor Bill Cosby has listed his seven-story townhouse at 18 East 71st Street for a staggering $29 million, according to Realtor.com. The 13,000-square-foot property is being sold for $2,230 per square foot in an attempt to cash out before facing potential foreclosure.
First Foundation Bank, who holds a $17.5 million loan on the property, has accused Cosby of defaulting on the loan and claims he owes over $300,000 in property taxes. The bank filed a lawsuit against Cosby in January, stating that he had stopped making payments on the debt.
The sale of the townhouse comes amidst a series of financial troubles for the 88-year-old actor, who has faced numerous accusations of sexual assault. Cosby and his wife, Camille, purchased the property in 1987 for $6.2 million and have reportedly used it as their primary residence.
According to his lawyer, Cosby is selling the property to "streamline his real estate holdings." However, the timing of the sale, just months after the lawsuit was filed, suggests that Cosby may be attempting to avoid foreclosure on the property.
Originally reported by The Real Deal.