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 townhouses worth millions of dollars each. 

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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.

Crain’s previously reported in December that Cosby is also facing foreclosure on a townhouse on East 61st Street in Manhattan, after he allegedly failed to keep up payments on a $4.2 million loan.

Cosby doesn’t appear to have any attorney listed for either property, and the foreclosure complaint is not against Cosby personally, but a limited liability company he and Camille set up for the properties. 

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

The actor — who has been accused by over 60 women of a variety of crimes, including rape, sexual assault, child sexual abuse and sexual harassment — was found guilty three counts of aggravated indecent assault against Andrea Constand in 2018.

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Cosby, 87, is accused of failing to keep up payments on a $4.2M loan on his E. 61st. St. townhouse and on $17.5M in combined loans on his E. 71st St. townhouse; seen in 2018 in Norristown, Pennsylvania

According to Our Town, the $17.5 million figure the disgraced comedian is accused of failing to keep up payments on is a combination of two loans Cosby took out on his East 71st Street property.

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

First Foundation Bank filed a lawsuit against Cosby’s LLC on December 31, 2024, in which it seeks to compel the sale of the townhouse in order to recoup some of the money the Cosbys have allegedly failed to pay back on his loans. 

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

According to Realtor.com, the townhouse may be worth up to $14 million on today’s market. 

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

It also accuses the Cosby Show star of failing to pay over $300,000 in property taxes, which the request sale would go toward covering.

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The couple were allegedly given a deadline of December 12 to repay all of money they owed, But First Foundation claims no payments were made. 

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

Cosby was given until December 12 to make missed loan payments and pay $300K in property taxes, but he and his wife allegedly did not make the payments by that date; seen in 2018

Cosby’s other property is reportedly facing foreclosure due to a complaint by his lend CitiMortgage. 

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

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

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

According to Realtor.com, Bill and Camille now currently reside at a home in the Philadelphia suburbs, which they bought for $225,000 in 1983, just prior to the start of The Cosby Show.