Las Vegas Sun

January 26, 2015

Currently: 56° — Complete forecast | Log in | Create an account

Nicolas Cage’s foreclosed Las Vegas home sells for $4.95 million


Sam Morris / Las Vegas Sun

This is the foyer of a home formerly owned by Nicholas Cage and sold for $4.5 million in January 2012. Cage bought the house in September 2006 for $8.5 million.

Updated Monday, Jan. 25, 2010 | 7:43 p.m.

Nicolas Cage Home Foreclosure Sale

This is a view of the open area of the second floor in a home formerly owned by Nicholas Cage and recently sold out of foreclosure for $4.95 million Monday, January 25, 2010. Cage bought the house in September 2006 for $8.5 million. Launch slideshow »

5100 Spanish Heights Drive

Actor Nicolas Cage’s financial troubles have become someone else’s gain.

A Las Vegas real estate company reported today that it sold Cage’s foreclosed, bank-owned home for about $3.5 million less than what the star bought it for in 2006.

Cage bought the 14,300-square-foot home for $8.5 million in September 2006, according to Luxury Homes. The company announced Monday it sold the house for about $4.95 million after one day on the market.

The sprawling mansion at 5100 Spanish Heights Drive in Las Vegas boasts six bedrooms, seven-and-a-half bathrooms, a 16-car subterranean garage, an elevator and a theater room.

Cage’s home went into foreclosure in early December, following the announcement that the 45-year-old star owes the IRS more than $6.6 million in back taxes dating back to 2002.

The Sun reported in November that Cage owes a total of $6,617,550.84. The figure is a combination of three older federal liens – $70,190.05 from 2002, $179,738.23 from 2003 and $110,617.56 from 2004 – and $6,257,005 in back taxes from 2007.

Cage told People Magazine earlier this month he owes the IRS more than was previously reported. An additional lien was filed for $6.7 million for a 2008 tax bill, according to People.

"Over the course of my career I have paid at least $70 million in taxes. Unfortunately, due to a recent legal situation, another approximate $14 million is owed to the IRS," Cage told People in a statement.

Forbes ranked Cage 45 on its list of the 100 most powerful celebrities last year, reporting that star made $40 million between June 2008 and June 2009.

Luxury Homes reported that four of Cage's homes have been foreclosed upon -- two in New Orleans, one in California and one in Las Vegas.

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy

Previous Discussion: comments so far…

Comments are moderated by Las Vegas Sun editors. Our goal is not to limit the discussion, but rather to elevate it. Comments should be relevant and contain no abusive language. Comments that are off-topic, vulgar, profane or include personal attacks will be removed. Full comments policy. Additionally, we now display comments from trusted commenters by default. Those wishing to become a trusted commenter need to verify their identity or sign in with Facebook Connect to tie their Facebook account to their Las Vegas Sun account. For more on this change, read our story about how it works and why we did it.

Only trusted comments are displayed on this page. Untrusted comments have expired from this story.

No trusted comments have been posted.