Bill Cosby is said to be so desperate for money to pay off a civil judgment granted to one of his victims, he has cut the price on his New York City townhouse by more than $750,000.
Dropping List Price
The disgraced comic’s property in Manhattan went on the market last year with a price tag of $6.99 million. After only 12 weeks, the price dropped by $250,000 to $6.75 million. The latest price slash means the listing is now on at $5.99 million.
A source told Radar Online about the cuts. “(Cosby is) desperate to raise money and clearly willing to do just about anything necessary to do so.”
Accused of Assault
Cosby was ordered in late March by a California court to pay $59 million to Donna Motsinger, a former waitress. A Los Angeles jury determined he had attacked her in 1972.
Radar also reported Cosby’s fortune is “dwindling as he no longer tours or makes films – while legal bills continue to mount from multiple lawsuits against him.”
Sources also told the outlet his once estimated $400million fortune had already shrunk to an estimated $128 million.
It said the drop came “even before Motsinger was awarded the big-bucks payout for her pain and suffering.”
At least 60 women have accused the former comedy hero of sexual assault. He was once branded “America’s Dad” due to his once-beloved role as father Cliff Huxtable in The Cosby Show.
He has denied all allegations against him.
Cosby has been convicted of drugging and attacking an unconscious Temple University basketball executive, Andrea Constand, at his Philadelphia home in 2004. After serving three years in prison, he was released on a technicality.
Terrified to Lose Everything
An insider also told Radar, “He’s terrified even more women will launch similar suits against him and he will lose everything.”
The outlet added, “Sources said the financial crunch has put great strain on Bill and Camille, leading to tension in their 62-year marriage.”
An insider said, “They’re desperate to raise cash, and she’s sniping at him about the position he’s put them in. It’s a miracle they’re still together at all.”
Cosby’s primary home is now in Pennsylvania, and he still has a large property portfolio.
December Lawsuit
He was also hit with a lawsuit in Manhattan Supreme Court in December by the East 61st Street home’s lender, First Foundation Bank.
It alleged he had defaulted on $17.5 million in loans secured against the 12,000-square-foot mansion.
The comic also faced claims from a separate lender he and his wife, Camille Cosby, 82, had defaulted on a $4.2 million loan tied to the townhouse.
Outstanding principal and accrued charges were said to have topped $3.7 million, and both the lender’s debts were ultimately settled.