Nicolas Cage's Rhode Island Home Gets Another Price Cut

by Deidre Woollard (RSS feed)
Dec 19th 2010 at 8:04PM

The Gray Craig home in Middletown, Rhode Island as been on my radar since it was for sale for $19 million in 2005 but it can now be had for a fraction of that price. It was bought by Nicolas Cage for $15.7 million. The home is on over 27 acres of land that extends to Nelson Pond and includes views of the Atlantic Ocean beyond. The grounds feature a pool, tennis court, fish pond, stone terrace and heated garages. The brick and stone home has 12 bedrooms and was built in a grand style. Public rooms include a library with a barrel-vaulted ceiling, a formal living room with water views, dining room, vintage conservatory, billiard room, and a kitchen with a stone fireplace, custom hickory ceilings, and antique terra cotta floor tiles.

Cage first listed this home in 2008 and since then we've seen the price fall. He's either sold or lost to foreclosure just about everything else on his plate but this Rhode Island home remains. A reader tipped me to the fact that it's now listed at just $7.75 million representing another huge loss for Cage who has taken it on the chin when it comes to real estate. His New Orleans homes went back to bank.

Gallery: Nicolas Cage at Gray Craig