Bill Cosby’s long-owned Upper East Side mansion—a towering seven-story limestone showpiece built at the height of New York’s Gilded Age—has been sold for $28 million, narrowly sidestepping an active foreclosure case and closing a major chapter in one of Manhattan’s most closely watched celebrity real-estate sagas. According to city finance records filed Friday, the contract was signed less than a month after the home hit the market for $29 million, marking a remarkably fast turnaround in a luxury category where homes often sit for months or even years before finding the right buyer.

The final sale price was first reported by Realtor.com and reflects more than just a real-estate trade—it represents the abrupt end of a financial battle that had escalated for more than a year. For Cosby, now 88 and long removed from public life following widely publicized accusations and legal challenges, the deal allowed him to unload one of his most valuable assets at precisely the moment his lenders were pressing hardest.

But beyond the headlines and the legal tension, the home itself tells a story of old New York glamour, prime Manhattan real estate, and a celebrity dynasty whose complicated legacy still looms over both coasts.

A Block That Defines Old New York—and Draws Global Attention

Located at 18 East 71st Street, steps from Central Park and just off Fifth Avenue, the mansion occupies a block that real-estate agents can only describe as “legendary.” The street has long attracted a mixture of cultural icons, literary giants, and some of the city’s most recognizable buildings.

Among its neighbors:

The “Breakfast at Tiffany’s” brownstone, one of Manhattan’s most photographed film locations

Joan Didion’s former residence, a quiet nod to New York’s literary past

And directly across the street, the mansion once owned by financier Jeffrey Epstein, whose property remains a magnet for curiosity and controversy

No other stretch of the Upper East Side blends cinematic fame, architectural prestige, and real-estate lore quite like East 71st Street. For decades, the block has been synonymous with a certain kind of Manhattan elegance—restrained, historical, and deeply rooted in late-19th-century craftsmanship.

A Mansion Built for Another Era

Constructed in 1899 by architect John Duncan, the designer behind some of New York’s most important civic and residential buildings, the townhouse is a towering example of Gilded Age opulence. Its ornate limestone exterior rises seven full floors and is capped by a dramatic copper-clad mansard roof, a hallmark of the turn-of-the-century French revival style that once dominated the Upper East Side.

Spanning approximately 13,000 square feet, the home includes:

A grand central hall designed for sweeping entrances

Intricately inlaid floors crafted in the original construction period

Eleven fireplaces, each outfitted with period mantels and detailing

High ceilings throughout, including a soaring parlor floor

A 500-square-foot roof garden offering a private perch above the tree-lined block

Despite its age, the mansion remains one of the Upper East Side’s most structurally intact examples of early Manhattan luxury—a major selling point in today’s market, where historic details often command premiums.

Cosby’s Connection to the Mansion: A Peak-Career Purchase

According to city records, Cosby purchased the home through a lawyer in 1987, near the height of his television success. At the time, the mansion was reported to be a surprise gift for his wife, Camille. For the next three decades, the property remained a cornerstone of the Cosby family’s New York life—hosting holidays, family gatherings, and private events while discreetly tucked into one of the city’s most exclusive residential corridors.

Cosby’s name eventually faded from the real-estate spotlight as he receded from public view in the 2010s and 2020s. Yet the mansion remained a fixture on East 71st Street—quiet, imposing, and unmistakably grand.

The Financial Storm: Mounting Debt and a Lender Ready to Act

The sale, however, was not driven by a desire for downsizing or portfolio reorganizing. Instead, it came amid a forceful push from First Foundation Bank, which initiated foreclosure proceedings in 2024. In legal filings, the bank alleged that Cosby and his wife had defaulted on $17.5 million in loans tied to the mansion and that the couple owed more than $300,000 in unpaid property taxes.

The Cosbys denied wrongdoing and challenged the claims in court. Still, the pressure was unmistakable—and unforgiving. Once foreclosure proceedings begin, luxury properties often face rapid deterioration in marketability as buyers shy away from legal entanglements.

In that context, finding a full-price buyer in fewer than four weeks was not just a financial win—it was a lifeline.

A Fast, Clean Sale: How the Deal Came Together

While many Upper East Side townhouses linger on the market, especially those with complex histories, this property moved with remarkable speed. Within weeks of its September listing, it had secured a committed buyer willing to pay nearly the full asking price.

Several factors likely contributed to the fast turnaround:

1. The block’s pedigree

Manhattan buyers pay premiums for irreplaceable locations, and few are as coveted as East 71st Street.

2. Turnkey historic value

While many historic mansions require multi-million-dollar renovations, this property remains unusually intact, making it attractive to both preservationists and investors.

3. Foreclosure pressure

The sellers had incentive to accept a swift, qualified offer rather than risk further legal complications.

4. Market timing

High-end buyers often move quickly toward year-end, especially when seeking tax or investment advantages.

Whatever the mix of motivations, the result was a sale that effectively halted the foreclosure clock.

The Second Townhouse: Another Legal Battle Still Unfolding

The East 71st Street mansion is not the Cosby family’s only Manhattan property—and not the only one facing financial trouble.

A second townhouse at 243 East 61st Street, located in Lenox Hill, remains on the market and embroiled in its own dispute. That home was listed in April for $6.99 million, later reduced to $6.75 million. In late 2024, CitiMortgage alleged that the Cosbys had defaulted on a $4.2 million loan tied to the 5,000-square-foot residence, which Cosby originally purchased in 1980.

The home carries emotional weight: it was reportedly used by the couple’s late son, Ennis Cosby, who died in 1997 during an attempted robbery in Los Angeles. Despite that history, the property now must face the same pressures that pushed its larger counterpart into a sale.

As of this writing, the East 61st Street property remains unsold.

Why Buyers Still Chase Old Manhattan Mansions

Despite the legal complications and the legacy of the owner, there is no shortage of buyers for grand, prewar Upper East Side homes. The reasons are straightforward:

They are architecturally irreplaceable. New York no longer permits the construction of residences of this scale on these blocks.

Institutional-quality craftsmanship—stone carving, fireplace work, plaster detailing—cannot be replicated affordably today.

They serve as multi-generational assets, often purchased by families or international buyers seeking long-term real-estate anchors.

Proximity to Central Park, Fifth Avenue, and top museums ensures that demand stays evergreen.

In other words: no matter who owns them, homes like these rarely go out of style.

A Mansion Saved—But What Comes Next?

The sale of the Luyster Mansion spares the home from foreclosure—for now. For Cosby, it marks the end of a nearly 40-year relationship with one of Manhattan’s most recognizable townhouses. For the buyer, it represents a rare opportunity to claim a place on one of New York’s most iconic blocks.

The terms of the sale, beyond the $28 million price tag, remain undisclosed. The identity of the new owner has not yet been made public, though city filings confirm the property changed hands in early November.

What is certain is that the mansion will continue to be what it has always been: a towering symbol of old New York glamour, even as its famous former owner fades further from the spotlight.