CelebrityForeclosures

Nicolas Cage's Las Vegas Home Finally Sold

Filed under: Estates, Celebrity Shopping

The once impressive roster of homes belonging to Nicolas Cage has gradually gotten smaller and smaller. The latest to fall is his Las Vegas home. Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas has announced that he sold Cage's foreclosed, now bank-owned Las Vegas home the first day it was on the market. Cage's property located at 5100 Spanish Heights Drive in Las Vegas is now in escrow and is expected to close on Wednesday.

Cage, who had a variety of properties scattered all around the world, picked up this home in 2006 for $8.5 million. In July 2008 he listed it for $9.95 million. The 14,000-square-foot home with a 16-car garage was later discounted to $9.49 million. The seven-bedroom home is blandly extravagant with a sweeping staircase, home theater, elevator and panoramic views of Las Vegas. The home has a pool and spa and is located in a gated community for privacy. After it was foreclosed it got a discount in line with current Las Vegas prices, Lowman sold Cage's former home for close to the asking price of $4,950,000.

Last November Cage's New Orleans homes were sold back to the bank for a total of $4.5 million. His Rhode Island home still appears to be listed at $12 million.

Gallery: Nicolas Cage in Las Vegas

Tags: celebrity foreclosure, celebrity foreclosures, CelebrityForeclosure, CelebrityForeclosures, las vegas, LasVegas, nicolas cage, NicolasCage

Another Potential Foreclosure For Latrell Sprewell

by Deidre Woollard (RSS feed) —

Filed under: Estates, Sports

Last year was a bad one for former NBA star Latrell Sprewell who saw his yacht, the 70-foot "Milwaukee's Best" repossessed and his $405,000 home in River Hills, Wisconsin facing foreclosure (Sprewell later settled this debt). This year doesn't seem to be bringing Sprewell much more luck. His Purchase, New York home is scheduled for a sheriff's sale at the Westchester County Courthouse on January 7, 2010.

LoHud.com reports that Sprewell purchased the 3.3-acre property in January 2000 for $2.3 million. He got a 30-year mortgage from Washington Mutual Bank for $1.612 million in 2004 and first failed to make payments starting in April 2008, around the time his other financial troubles began. The home was the site of an alleged domestic dispute in 2006. Sprewell was accused of attacking his girlfriend, Candace Cabbil, in front of their four children but prosecutors agreed in 2008 to drop the charges if Sprewell stayed out of trouble for a year.

A listing on Sotheby's Realty has the house at $3.8 million. It has seven bedrooms, a complete gym, pool and spa, basketball court, four-car garage and a recording studio. Listing pictures reveal large televisions, spiky metal sculptures and large open spaces.

Gallery: Latrell Sprewell in Purchase, New York