Bill Cosby is selling tens of millions in LA properties
LOS ANGELES: Staring down years of legal struggles, disgraced comedian Bill Cosby has been quietly selling off his Los Angeles real estate portfolio.
These include a number of toptier commercial properties in downtown Santa Monica.
Last week, Cosby, 80, was found guilty of aggravated indecent assault.
He currently has two Santa Monica properties along Main Street listed for a combined US$ 26 million ( RM101.4 million), according to online property records.
One of the properties is a twostorey, 8,668- square-foot brick building at the corner of Main and Hill that is zoned for retail and office space and currently listed at US$ 20 million. Its main tenant is a Starbucks on the ground floor. Cosby also owns a separate parcel of land up the street at 3016 Main St. That property is currently a parking lot at the corner of Marine Street and is on the market for US$ 5.7 million. The lot is 6,024 square feet and has the potential for a 4,018-square-foot building.
In September of 2015, when a cascade of sexual assault accusations poured forth from dozens of women against the comedian, and the Los Angeles Police Department was conducting a criminal investigation into Cosby, he sold a 9,500- square-foot building at 3008 Main St. for US$ 11.8 million.
All three of the Main Street properties are tied to C.O.C. Real Estate LLC, which lists Cosby’s wife, Camille, as its principal. It is unclear why Cosby is selling his portfolio. Eric Kessler, the listing agent for the properties, hung up on The Hollywood Reporter when asked to comment. Calls to Cosby’s spokesperson were not returned.
Cosby faces up to 10 years for each of the three felonies he was convicted of. Sentencing is expected in the next two months, and until then Cosby remains free on US$ 1 million bail. The judge in the trial confi ned Cosby to his Pennsylvania home until he is sentenced.
Cosby’s legal team has vowed to appeal the conviction, a process that could take years. At least 10 women have pending civil suits against Cosby accusing him of sexual assault or defamation.