Tags: david cassidy | bankruptcy | auctioning | florida | home

David Cassidy Bankruptcy Leads to Auctioning His Florida Home

By    |   Tuesday, 30 Jun 2015 08:48 AM

‘The Partridge Family’ star David Cassidy is losing his Florida home after filing for bankruptcy earlier this year. The spacious Fort Lauderdale estate will be auctioned for $1.9 million.

Cassidy, 65, filed for Chapter 11 bankruptcy protection in February and on Thursday a court granted Cassidy permission to auction off his home. He claims he no longer needs the mansion that he and his soon to be ex-wife own because he must travel often for work, the Sun Sentinel reported.

 


"Mr. Cassidy has accepted the process and wants to move forward and turn to the next chapter of his life," said Lamar Fisher, head of the auction house that is handling Cassidy’s auction set for Aug. 18.

The Broward County home has six bedrooms, six bathrooms, a gourmet kitchen, a pool, a gazebo, and custom wood floors. Cassidy listed a mortgage of $803,728 on the 7,000-square-foot waterfront home. The property originally had a market price of $4.4 million but the Cassidys paid $1.1 million for it in 2001.

When he filed for bankruptcy, Cassidy listed assets and debts of nearly $10 million, said People magazine. In addition to $102,000 owed to a Florida lawyer, Cassidy has several creditors owed more than $17,000 each, including Wells Fargo Bank, American Express, and CitiBank.

“I am going through bankruptcy proceedings at the moment. This is necessary for practical reasons to reorganize my life as I go through divorce and to restructure my finances," Cassidy told the New York Daily News.

Cassidy still owns a Saratoga Springs home, said People.

Adding to the 1970s heartthrob’s financial woes, in January 2014 Cassidy received his third DUI since 2010, and just months later was sentenced to rehab and five months on probation. Cassidy and his wife Sue Shifrin-Cassidy filed for a divorce in 2014 after being married for 23 years, said the Daily News.

 


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‘The Partridge Family’ star David Cassidy is losing his Florida home after filing for bankruptcy earlier this year. The spacious Fort Lauderdale estate will be auctioned for $1.9 million.
david cassidy, bankruptcy, auctioning, florida, home
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2015-48-30
Tuesday, 30 Jun 2015 08:48 AM
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