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Nic Cage's

Vegas Home

Hits Rock Bottom

1/25/2010 6:10 PM PST BY TMZ STAFF

Nicolas Cage Foreclosed Home sold Nicolas Cage's foreclosed Las Vegas mansion has finally been sold -- for nearly $3.5 million less than the actor paid for it in 2006.

According to the broker, Cage purchased the 14,306 sq. ft. Las Vegas home for $8.5 million back in 2006 -- which was foreclosed on in November of '09.

The home was repo'd by the bank -- and now the broker, Kenneth Lowman says the home has been sold for $4.95 million.

FYI -- the home has 6 bedrooms, 7.5 bath, a 16-car subterranean garage, an elevator and theater room.

Cage -- who has described his financial situation as "catastrophic" -- claims he's the victim of a reckless financial manager. The manager counters it was cage who was a reckless spender.

The actor still owes roughly $13 mil to Uncle Sam in unpaid back taxes.

31 COMMENTS

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1.

Michael    

Who says 'the rich' do not need financial intelligence? Mr. Cage, it is not your fault, you were never taught neither was your financial manager taught about money.
You learned how to spend it, that is all! But I'd say try and attend a class in PRISMCHECK, so you can begin to learn a few things about money. It is never too late

1614 days ago
2.

bubbatrucker08    

ooooo poor baby ... try buying a everyday small a** house instead of making yourself look bigger than your already huge ego ... most celebrities think they need to spend spend spend , 13 million reasons why i laugh about everyday when i see these things

1609 days ago
3.

Reckless Turtle    

I thought liberals were for more taxes. How could he support more taxes when he's behind by 13,000,000.00 already? Please explain what I am missing here?

1605 days ago
4.

Mike    

first

1641 days ago
5.

Hates Conan like crap    

Cage is an idiot.

Evidenced by his marriage to Lisa Marie.

He deserves whatever he gets.

I hope he ends up a homeless pauper.

1641 days ago
6.

South Beach    

The house sold for less than purchased in 2006. Well, join the rest of the country Nicky. having trouble dredging up an ounce of sympathy for someone who needs to buy 3 castles and a total of 15 homes. Nick always was a pretty good actor but 1 fry short of a Happy Meal. Pay up and welcome to the real world old boy.

1641 days ago
7.

Wombat    

I really have to lean towards this being Cage's fault. He didn't have that much money to be buying all those mansions and cars. I'm sure he made a ton of money, but he's not like a Mel Gibson.

I hope he snags some great parts, pays off these taxes, socks away several million and buys one nice home to retire to...and I don't mean a 60 million dollar castle in france.

1641 days ago
8.

Wil    

We know, we get it TMZ. Nic Cage is having money problems. Were over it!

1641 days ago
9.

Grouch    

How many homes does this idiot need?

1641 days ago
10.

L    

I'll never understand why 2 people need 14,000 + square feet of home. Never.

1641 days ago
11.

Paparazzo@frog.cc    

Nic Cage is one of those guys who was born with no commonsense. He used to be a great actor. How, he's just a whore for any film for money.

1641 days ago
12.

TMZ hits a new low    

You know what they say about money around Hollywood, right: "Yeah, Nick Cage has money, but he doesn't have Hoff money." As in David Hasselhoff. Insert most actors' names in place of Nicholas Cage and same proverb applies. Hoff money is a lot of freaking money.

And my guess is that someday you'll put Drew Carey in that Hoff category. True!

1641 days ago
13.

hateliars    

so, his financial manager made him buy all these mansions? goes back to the fact that the housing market SUCKS and is continuing to go south.... obviously, some of these rocket scientist celebs think they are immune to the economy. Keep up the smiles Nic, Mr. Obama keeps mentioning he is going to tax the rich for this, the rich for that. people with income over 250K for that over there, and upper class are going to pay 'their fair share' for well everything now.....

1641 days ago
14.

T    

he will bounce back

he lived like a king and he wont second time around

its very easy to get in debt when u make large amounts like he did

not everyone can save every dime and not enjoy life,cage enjoyed it a bit too much but he will bounce back

hang in there,nicolas

1641 days ago
15.

Ziggy    

I love Nicholas Cage as an actor and his last movie "Knowing" was really good. At least he has the potential to earn millions again, so how bad can it be? Not like he's going to end up homeless and living under the bridge.

1641 days ago
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