Bill Cosby has sold his historic Upper East Side townhouse for $28 million, a move that comes as the property faced foreclosure proceedings. The sale of the seven-story mansion, located at 18 E. 71st St., was finalized in early November, according to city finance records filed last week.
The sale price was just under the $29 million asking price, and the deal closed less than a month after the home was listed. The transaction resolves a looming financial challenge for the 88-year-old entertainer, who was accused by a lender of defaulting on millions in loans tied to the property.
Key Takeaways
- Bill Cosby's Gilded Age townhouse at 18 E. 71st St. sold for $28 million.
- The sale prevented a foreclosure action initiated in 2024 by First Foundation Bank.
- The lender alleged the Cosbys defaulted on a $17.5 million loan and owed over $300,000 in property taxes.
- A second Manhattan property owned by Cosby remains on the market amid separate financial disputes.
A Swift Transaction Under Pressure
The sale of the limestone-clad residence, known as the Luyster Mansion, was completed with notable speed. The property went under contract quickly, signaling strong interest despite its connection to the controversial public figure. The final price of $28 million represents a significant transaction in Manhattan's luxury real estate market.
This sale was precipitated by a foreclosure lawsuit filed in 2024. First Foundation Bank claimed the Cosbys had defaulted on loans totaling $17.5 million. The bank also alleged that more than $300,000 in property taxes had gone unpaid. While the Cosbys disputed the allegations in court, the sale effectively ends the legal battle over this specific property.
A Storied Property with a Complex History
Cosby acquired the townhouse in 1987, near the peak of his fame with "The Cosby Show." It was reportedly purchased as a surprise for his wife, Camille. Built in 1899 by architect John Duncan, the home is a prime example of Gilded Age architecture and is located just a block from Central Park on one of the city's most exclusive streets.
Inside the Luyster Mansion
The 13,000-square-foot home is an architectural landmark. Its ornate limestone facade and copper mansard roof are distinctive features of the block. The interior boasts grand-scale rooms and historic details that have been preserved for over a century.
Key features of the six-bedroom residence include:
- A soaring central hall
- Intricately inlaid wood floors
- Eleven fireplaces
- A 500-square-foot roof garden
- A marble-lined vestibule
The mansion's location is as notable as its architecture. It sits among other high-profile properties, including the brownstone featured in "Breakfast at Tiffany’s" and the former residence of author Joan Didion. Directly across the street is the infamous mansion formerly owned by Jeffrey Epstein.
- $28 Million: Sale price of the E. 71st St. townhouse.
- $29 Million: Original asking price.
- 13,000: Approximate square footage of the sold mansion.
- 1987: The year Cosby purchased the property.
- $17.5 Million: The loan amount the bank claimed was in default.
Lingering Financial and Legal Issues
While the sale of the Luyster Mansion resolves one major financial headache, another remains. The Cosbys own a second, smaller townhouse in Manhattan at 243 E. 61st St. in Lenox Hill. This property is currently on the market and has also been the subject of legal action.
Listed in April for $6.99 million, its price was later reduced to $6.75 million. In late 2024, CitiMortgage filed a suit alleging the Cosbys had defaulted on a $4.2 million loan for this home. The 5,000-square-foot residence, purchased in 1980, was reportedly used by the couple's late son, Ennis, who was murdered in 1997.
The sale of the 71st Street property provides a significant cash infusion for Cosby, whose public career ended over a decade ago after more than 60 women accused him of sexual crimes. He was convicted of sexual assault in 2018, but the conviction was overturned by the Pennsylvania Supreme Court in 2021 on procedural grounds. Both of the Manhattan properties were listed by Adam Schneider of Corcoran Westside Columbus.
