Bill Cosby threatened with foreclosure on two NYC townhouses after he ‘failed to pay’ loans worth $21 MILLION

Bill Cosby is reportedly facing the threat of foreclosure on two New York City mansions, each worth millions of dollars.

Cosby, 87, and his wife Camille, 80, are accused in a lawsuit of defaulting on $17.5 million in loans on a six-story townhouse located on East 71st Street in Manhattan, according to court documents.

From Crain reported earlier in December that Cosby is also facing foreclosure on a townhouse on East 61st Street in Manhattan after reportedly defaulting on payments on a $4.2 million loan.

Cosby does not appear to have an attorney listed for either property, and the foreclosure complaint is not against Cosby personally, but against a limited liability company he and Camille formed for the properties.

The financial setback comes more than three years after Cosby was released from prison following a successful appeal to the Pennsylvania Supreme Court.

The actor – who has been accused by more than 60 women of various crimes, including rape, sexual assault, child sexual abuse and sexual harassment – ​​was found guilty in 2018 of three counts of aggravated indecent assault against Andrea Constand.

Cosby, 87, is accused of defaulting on payments on a $4.2 million loan on his E. 61st. St. mansion and $17.5 million in combined loans for his E. 71st St. mansion; seen in 2018 in Norristown, Pennsylvania

According to Our cityThe $17.5 million the disgraced comedian is accused of defaulting on is a combination of two loans Cosby took out on his East 71st Street estate.

The couple reportedly took out a $12.25 million loan in 2010, then took out a second, smaller loan in 2014 for $5.25 million.

First Foundation Bank filed a lawsuit against Cosby’s LLC on December 31, 2024, seeking to force the sale of the mansion to recoup some of the money the Cosbys allegedly failed to repay on his loans.

The standup star reportedly bought the mansion in 1987 for $6.2 million, and for years it was his primary residence.

According to Realtor.comthe mansion could be worth as much as $14 million on today’s market.

The bank claims that Cosby and his wife first missed a loan payment on June 1, 2024, before receiving a notice of default on November 18.

It also accuses the Cosby Show star of failing to pay more than $300,000 in property taxes that would have been covered by the sales application.

The couple was reportedly given a deadline of December 12 to pay back all the money they owed, but the First Foundation claims no payments have been made.

Cosby and his wife reportedly took out a loan on the six-story E. 71st St. home in 2010 for $12.25 million, then took out a second loan in 2014 for $5.25 million. They are accused of missing payments starting in June.

Cosby was given until December 12 to make missed loan payments and pay $300,000 in property taxes, but he and his wife allegedly failed to make the payments by that date; seen in 2018

Cosby’s other properties are reportedly in foreclosure due to a complaint from his loan company CitiMortgage.

It accused Cosby and his wife of owing $3.7 million in principal on the $4.2 million loan, along with additional interest and fees.

The I Spy star bought the four-story mansion in 1980 for $1.2 million, and it is now believed to be worth around $6.8 million.

It is unclear if the mansion was used in recent years as it was reportedly used primarily by Cosby’s son Ennis, who was murdered in 1997.

According to Realtor.com, Bill and Camille now live in a house in suburban Philadelphia that they bought for $225,000 in 1983, just before the start of The Cosby Show.