Bill Cosby's $7 Million NYC Townhouse Faces Foreclosure: Price Slashed Amidst Unusual Circumstances

Bill Cosby's New York City townhouse faces significant challenges in the real estate market, prompting a price reduction amid low buyer interest. Nestled on East 61st Street in Manhattan’s Upper East Side, this historic residence initially hit the market with a $7 million price tag but has since seen a $250,000 decrease, bringing it to $6.75 million. The urgency is palpable as potential foreclosure looms. The New York Post reveals that CitiMortgage has initiated foreclosure actions against the LLC owning the property, escalating financial pressures on the stalled sale. Cosby allegedly owes $17.5 million to the bank, though his legal representatives dispute these figures as inflated. The townhouse, listed by Adam Schneider of Corcoran, was acquired in April 1980 for $1.2 million. This four-story, six-bedroom dwelling, a 5,000-square-foot space, once served as a family home, reflecting Cosby’s rapid decline from his past prominence and financial stability.

Image Credit: (Wikipedia Commons)