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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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16.

Darlene    

Dont understand why people with so much money get in such messes!!

1641 days ago
17.

Elvis Twin    

He's not an idiot! You all would be buying up houses too if you had that kind of money. Just a financial hiccup everyone goes through every now and again. Just keep pluggin' away Nic!

Anyone know why it takes so long to get paid by these production companies?

1641 days ago
18.

weirswalker    

I love this guy..I'd even support him..as long as he'd agree to live like a pauper

1641 days ago
19.

Yaya    

Cage may be a great actor, but that doesn't imply that he's a SMART person. Check out his Koreanformerwaitress wife who's like 25 years younger that him. Remember the gossip columns reporting how he was a complete a**hole in restaurants demanding that his underaged chick be served alcohol??

He's a self-absorbed ACTOR (oxymoron) who thought laws didn't apply to him. Maybe this tax fiasco is a nice karmic bitch slap.

1641 days ago
20.

Grouch    

Scooter please note: He is an idiot.

1641 days ago
21.

wayne    

Whether u are rich or poor, everybody should take note and live within your means.
How many of you who "own" your house keep borrowing from the "equity" on it every year just to buyy a new HDTV?

It looks bad to see people spending on crap they do not need. Look at Fantasia. One minute she is on MTV Cribs, the next she is out on the street.Then you have others who just lease vehicles to give the impression that they are living a lifestyle.

I have made my mistakes and trust me I am not repaeting them.

1641 days ago
22.

Zippy T. Pinhead    

I feel so sorry for little Nicky Cage. Perhaps we should get one of those charity text things going. If we do this thing right, we can raise maybe 100 million dollars. Then he can take the money and buy a bunch of houses, a couple elephants and million dollar art work. Come on people, what do you say? Text your donations to (5677idiot done spent all his money)

1641 days ago
23.

Wanda    

"The manager counters it was cage who was a reckless spender."

-----------------------------------------------
How about capitalizing the word CAGE?
Proper Name..English 101

1641 days ago
24.

LongJohn69    

Make "Con-Air II".

1641 days ago
25.

balls    

balls

1641 days ago
26.

UGGGGHHH    

father bills the shelter for the homeless is having open house.

1641 days ago
27.

kanank    

which moron bought this house for $4.95M? its going down another 50%..Las vegas is going to do worse this year especially the 2nd half since unemployment is going to get worse.it will be 20% at the end of this year. few big casinos will close and will be laying off 1000s of employees by the end of this year. There is a strong probability The new casino that recently opened will abruptly shutdown within the next 6 mos.

1641 days ago
28.

Billy    

Cry me a river.

1641 days ago
29.

DOODAD    

Hey nanak, do you live in Vegas?

1640 days ago
30.

Kevin    

I'm sorry but the whole cage family has some money spending issues. I went to school with nick's son in law, chris, at Universal Technical Institute and he was given a brand new lexus IS and he crashes it trying to make a turn at 60 mph. blowing out the whole left side of his car. Guess what they did for him, bought him a brand new 40,000 dollar car for no reason, because he needed a car to drive he told me

1569 days ago
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