Nobody Wants Nic Cage's Bel Air Home
We've know for years that Nicolas Cage's house in the Bel Air area of Los Angeles was a hard sell. After all we've seen the home linger on the market since 2007 going from a high of $35 million to $17.5 million in 2009. Cage, whose money troubles have already cost him most of his other real estate, was set to lose his Tudor-style home at an auction on April 7. It was up for auction with several other foreclosed properties at the county courthouse in Pomona. The LA Times reports that the bidding opened at $10.4 million. There were no takers and it was all over in a flash with ownership going back to the foreclosing lender, one of six that have queued up to get their share of the $18 million owed on the house.
Why can't Cage unload this one? He bought the home in 1998 from Tom Jones for $6.469 million and it was also owned by Dean Martin. The vintage Tudor is classic old Hollywood but Cage's tastes which run toward the baroque and bizarre may have thrown off some buyers. A tour shot by Everett Fenton Gidley reveals comic books framed on the wall in the dining room and a massive amethyst geode dominating another room. The core bones of the seven-bedroom home are great and it is on over an acre of land with a pool but the pervasive air of wackiness may have worked against it.
TMZ reports that Cage lost more than just the Bel Air house on Wednesday. He also owned two adjacent properties in the hills of Malibu which represented hundreds of acres total. Both of those properties were being auctioned for a minimum of $10 million but with no takers they were also surrendered to the lenders.
Cage, who also saw both his New Orleans homes go back to the bank, has sued his former business manager, Samuel J. Levin, claiming that Levin mismanaged Cage's funds and left him destitute. In return Levin has countersued saying that Cage was a binge spender.