Sam Morris / Las Vegas Sun
Published Monday, Jan. 25, 2010 | 12:10 p.m.
Updated Monday, Jan. 25, 2010 | 7:43 p.m.
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.