Nicolas Cage

Around this time last year we heard that the Las Vegas home that once belonged to Nicolas Cage has finally been sold. Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas announced that he sold Cage's foreclosed, now bank-owned Las Vegas home the first day it was on the market at a new low price of $4.95 million. Cage, who once 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.

The home has resurfaced with a new listing that proudly proclaims its Cage provenance. A comparison of listing pictures from then and now reveals that a little sprucing up and staging has taken place but the overall look of the home is very similar. The price is back up again, it is now listed at $8.9 million.

The good news is that celebrity homes seem to sell more easily than your average luxury real estate. The bad news is that there a lot of celebrity homes still seeking a new buyer. I dug through my 2010 archives, month by month, to assess the damage and see who is still trying to sell.

Some celebrities including Mel Gibson, have tried a price cut of over a million. Others including Uma Thurman, Ricky Martin and Richard Chamberlain have held their ground and their properties have sat on the market for over six months. Sheryl Crow tried to take the auction route but failed to sell her Tennessee farm.

But of course the biggest celebrity real estate tail of woe for 2010 has to be Nicolas Cage. He managed to sell off his New York apartment and his Las Vegas house but saw two New Orleans homes and his Bel Air mansion fall to foreclosure. His Rhode Island home, shown above, is still on the market for $7.75 million, a far cry from the $15.7 million he paid for it.

A look at every celebrity home listing we covered in 2010 with updated results is after the jump.

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.

The LA Times reports on another twist in the saga of Nicolas Cage's former Bel-Air estate. Cage had bought the Tudor-style home in 1998 from Tom Jones for $6.469 million and it was also owned by Dean Martin. While it was once listed at high as $35 million several years ago, Cage was unable to sell at an acceptable price and ended up losing the property to foreclosure earlier this year. An auction at the county courthouse in Pomona, California back in April failed to bring out any bidders and went back on the market for $12.75 million.

Now a new owner picked up the mansion for $10.5 million. The buyer was identified as a limited liability company so there is always the possibility that the 1940 Tudor is once again in celebrity hands. The property entered escrow at the end of July but didn't close until this week because the IRS had 120 days to decide if they wanted to buy it. There's good news for fans of the house, the owner has hired a restoration architect to restore the home which was designed by architect Gerard R. Colcord. The home is on an acre of land and has six bedrooms, a lavish movie theater, stained glass, carved woodwork and other classic details.

During one of Manhattan¹s hottest evenings on record, our invitation to the world premiere of "The Sorcerer's Apprentice" read:"Experience the coolest job ever in the heart of Times Square." The temperature on July 6, the afternoon of the screening, hit 103 degrees Fahrenheit, and it didn't feel any cooler standing in the breath of 42nd Street traffic beside the red carpet. Hence, Luxist decided to seize the sizzling day and ask VIP celebrities what the coolest job they could ever imagine would be.

"I like anything to do with the water . . . the ocean," said Nicolas Cage, star of the film, standing with his beautiful wife, Alice Kim, his hair tinged blond. "The deadliest catch," he added. "I have a lot of respect for the snow crab fishermen, Alaska king crab... for anyone out there trying to help the environment. Those are my dream jobs."

"Right now," answered Kelly Choi, the sexy hostess of "Top Chef Masters," inspired by the outdoor sauna, "I should be a pool tester. I should be testing whether they are cool enough or not."

"Oh, being a hairdresser," quipped Helen Mirren, also on the carpet. She had sported a particularly severe coif when she played the title role in "The Queen."

A somewhat stout Cedric the Entertainer also replied to our query. "A coveted NBA player like LeBron James, though I know I'm a little short for that one," he said, laughing. "I can't dunk. I don't know if I could even do a layup right now."

Jay Baruchel, of "She's Out of Your League" fame, who stars opposite Cage in the movie, said that he would simply like to "direct horror movies in Montreal . . . that's all I've ever wanted." Why Montreal? "That's where I live," he explained.

In a rare offering, an incredibly beautiful private island in Exuma, Bahamas, is being offered for sale at $110 million. Located near David Copperfield's famed Musha Cay, the island, called Cave Cay, features a protected deep-water harbor and marina with floating cement dock system and 35 dock slips, a 2,800 ft. private airstrip and several completed buildings. The island is totally self sufficient with water and power supplied by diesel generators, and features unspoiled beaches, lush vegetation, and elevations of up to 40 ft. capturing breathtaking views. Perched atop one of the highest points on the island is a luxurious owner's estate with 360-degree views and top-of-the-line appointments. Plans are in place for a world-class resort including a large clubhouse and restaurant, marina, shop, and guest houses, though it would of course make the perfect private retreat. Aside from Copperfield, Cave Cay's neighboring island owners are said to include Johnny Depp, Faith Hill and Tim McGraw and the increasingly impecunious Nicolas Cage. Christie's Great Estates has the listing.

The vintage Tudor-style home in the Bel Air area of Los Angeles formerly owned by Nicolas Cage is back on the market. Earlier this month the home went up for auction and, with no bidders, went back to the bank. Cage had bought the home in 1998 from Tom Jones for $6.469 million and it was also owned by Dean Martin. At the time of the auction total debt owed on the house was said to be $18 million and in the past Cage had tried to sell it for as much as $35 million. Now the home is listed with Westside Estate Agency for just $12.75 million. Fresh listing pictures reveal that the home has had a crazyectomy. All of Cage's inveterate wackiness has been stripped from the home. Walls and floors are bare and even some of the light fixtures appear to be missing. Wihout Cage's belongings inside the home may finally find its buyer.
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[via LA Times]

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.

Nicolas Cage's financial woes continue apace. In his spendier days he had two main weaknesses, expensive houses and pricey cars. We've seen what has happened with the houses, most have either been sold off or have headed back to the bank. Now TMZ has papers showing that Cage's love of cars got him in financial hot water too.

A leasing company, Premier Financial Services has threatened him over breach of contract. He signed a five year lease on a 1964 Rolls Royce SCIII back in 2007. He paid $7,663.02 per month on the car which was worth at least $550,000. One Rolls was not enough, he also leased a 2002 Rolls Royce Corniche, a car worth approximately $245,000 and carrying payments of $3,630.71.

When Cage began to feel the financial pinch last year he turned in both cars but because the leasing agency had to sell the 2002 Corniche it has wants money for upaid bills as well as a penalty for having to sell the car wholesale. TMZ reports that Cage's people are trying to work with the leasing agency. There is a third category that Cage liked to spend a lot of money in, collectibles, so far that category has brought him some money, perhaps it's time to sell off the comic books and old dinosaur bones.

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.

From Cityfile's Buyers and Sellers:
--Arlene Farkas, the ex-wife of real estate/retail heir Bruce Farkas, has cut the price of her 14-room duplex at the River House, shown above. The five-bedroom apartment was first listed for $15 million in 2008 but is now listed for $11 million.
--Judith Sheindlin, better known as "Judge Judy," has paid $6.75 million for a two-bedroom co-op at the Sherry Netherland on Fifth Avenue. The apartment had been listed for $7.999 million.
--via NY Daily News, Brooke Astor's Westchester estate, Holly Hill, first went on the market for $12.9 million but the property, which has now been emptied of Astor's furniture is listed at $10.5 million.

--via Curbed, architect Frank Gehry's former duplex at 55 Crosby Street has hit the market for $5.8 million. The listing is here.
--Jason Rabin, the apparel mogul who sold his company less than two months ago for $401 million, has now unloaded his duplex at 850 Park Avenue. Ten months after listing the five-bedroom apartment for $9.9 million, Rabin and his wife Nicole have sold it to Martha Stewart Weddings editorial director Darcy Nussbaum and her husband, attorney Andrew Nussbaum for $6.225 million.
--via Curbed, John McColgan and Moya Doherty, the husband-and-wife team behind "Riverdance," have sold their duplex penthouse at 1080 Madison Avenue. It was first for $10.5 million in July 2008 but sold for $5.85 million.
--via the NY Post, Jay McInerney has paid $1.4 million for a two-bedroom Sag Harbor cottage, which he plans to use as a writing space and children's playhouse.
--Michael Kasbar, the Miami, Florida-based chief executive of World Fuel Services, and his wife Mary, have paid $4.275 million for a two-bedroom apartment at 15 Madison Square North.
--via Curbed, a three-bedroom apartment at 15 Union Square West has sold for $7.128 million.
--Susan Berresford, the president of the $11 billion Ford Foundation up until 2008 and one of the nation's foremost experts on philanthropy, has paid $1.855 million for a two-bedroom co-op at 530 East 86th Street. The apartment first went on the market in August 2008 for $2.325 million.
--Nicolas Sayegh, a co-founder of International Delights, a company that supplies baked goods to New York hotels and gourmet stores, has paid $3.65 million for a 26th-floor apartment at the Miraval Living building at 515 East 72nd Street.
--Steven Lax, an executive vice president at the real estate financing firm Duscany Financial Group, has paid $5.25 million for a three-bedroom condo at the Heritage at Trump Place on the Upper West Side.
--The former Dakota residence of the late model/actress Ruth Ford is now on the market for $7.5 million. The listing is here.
--via Curbed, an unidentified couple has reportedly gone into contract to buy two duplex penthouses at 166 Perry Street. The apartments had been listed together for a combined $24 million.
--via New York Daily News, Brooklyn borough president Marty Markowitz and his wife, Jamie, have paid $1.45 million for a two-story home in Windsor Terrace.
--via the Real Deal, Billy Macklowe, the president of Macklowe Properties (and son of Harry), has sold a home he owned in Long Island's Northwest Harbor for $1.95 million. He bought the place for $1.89 million in 2002.

From the Real Estalker:
--Conservative commentator Glenn Beck has listed a six-bedroom home in New Canaan, Connecticut for $3.99 million, lower than the price he paid for it. The listing is here.
--via Curbed LA, the estate of Julius Shulman has listed his home on Woodrow Wilson Drive in Los Angeles for $2.495 million.


From the NY Observer's Manhattan Transfers:
--Art consultant Allan Schwartzman has closed on the purchase of a 12th-floor apartment at the Jean Nouvel-designed 100 11th Avenue. He paid $3.78 million for the three-bedroom spread.
--Former Vassar College president Frances Daly Fergusson has sold her two-bedroom apartment at 61 Jane Street for $1.6 million.
--Broadway producer Hal Prince and his wife, Judy, have paid $12.5 million for a seven-story townhouse at 48 East 74th Street.

From ShelterPop:
Tiger Woods's Real Estate Portfolio: What's Up for Grabs in a Divorce
Best and Worst Celebrity Real Estate Deals 2009

From the NY Post:
--Madonna is buying Kelly Klein's horse farm in the Hamptons along with an adjacent horse farm but she is also looking at a nearby house which on the market for $4.4 million. The listing is here.
--Natalie Portman wanted to rent a unit at The River Lofts, a two-building condo conversion at 416 Washington St. and 92 Laight St., but the owner of the 1,103-square-foot unit is only interested in selling.
--One of the highest-priced duplexes in architect Jean Nouvel's 23-story building at 100 11th Ave. went into contract and closed on the same day for $22 million.
--Michael Hirtenstein is renting his his 25 Bond St. bachelor pad for $50,000 a month.

From Newsday's Real LI:
--Documentary filmmaker Rory Kennedy has sold her Shelter Island home for $2.967 million.
--Former Mets infielder Edgardo Alfonzo has closed on the sale of his house in Little Neck, NY. The home, which had been one-and-off the market for three years, sold for $3.65 million.

Gallery: Edgardo Alfonzo in Little Neck, New York

From the Chicago Tribune's Elite Street:
--Former Blackhawks goalie Nikolai Khabibulin has rented out his three-bedroom condo in River North for $5,150 per month.
--The faux church Lake Bluff which we profiled when it was priced at $12.5 million has had a price cut down to $10.9 million.

Gallery: This Is Not A Church

From the LA Times Hot Properties:
Dancing With The Stars host Samantha Harris has sold her Westwood home for $1.64 million It was listed at $1.595 million when we checked it out as an estate of the day.

Gallery: Samantha Harris In Westwood

--Celebrity stylist Andrea Lieberman has sold her home in the Hollywood Hills for $1,800,625.
--Salsa singer-actor-politician Rubén Blades has sold his home in the Windsor Square neighborhood of Los Angeles for $2.415 million.

From the Wall Street Journal's Private Properties:
--Cher is auctioning off a property she never used at the Four Seasons' Hualalai resort in Hawaii. Concerige Auctions which is running the January 18 sale anticipates bids between $8 million and $12 million. Cher bought the 0.76-acre property in December 2004 for $2.9 million and began building the house last year.
--Also at the Hualalai resort, Kenneth Griffin, a major figure in the hedge-fund world, has paid $11.38 million for two adjacent lots overlooking the ocean.
--Palazzo Tornabuoni, a 15th-century palazzo in Florence that was home to a pope and other members of the Medici family has been converted into 38 apartments now offered for sale. Prices range from €1.06 million ($1.53 million) for a 530-square-foot one-bedroom to €5.1 million for a 1,987-square-foot two-bedroom apartment with a large terrace.

From Berg Properties Big Time Listings:
--Nicolas Cage has sold a 3,480-square-foot house in Los Angeles' Hollywood Hills for $1,375,000.


--Once listed at $12.9 million, the Llenroc estate in Rexford, New York recently sold for $1.87 million.

Gallery: Llenroc Estate

From the LA Times Hot Properties:
--A 13,500-square-foot home in Tarzana with a tennis court and koi pond, an underground garage that fits 16 cars is being put up for auction. It was once listed at $9.775 million and cost more than $7.5 million to build. The minimum bid will start at $2.1 million on Dec. 5. The property website is here.
--Personal trainer Bob Harper of "The Biggest Loser" has purchased a home in the Hollywood Hills for $2.9 million.
--Robert Loggia has sold his longtime Bel-Air home for $2.95 million.


From Cityfile's Buyers and Sellers:
--Rod Aldridge, the founder of British outsourcing company Capita Group, has picked up a place in New York for $13.75 million at the Superior Ink building on West 12th Street.
--via the NY Observer, Doug Von Allmen, a venture capitalist and victim of alleged Ponzi-schemer Scott Rothstein, has put his duplex apartment at the Time Warner Center on the market for $18.45 million. The listing is here.
--Bank of America portfolio manager Raymond Cubero and his wife, Kathleen Comerford, have changed brokers and dropped the price of their Trump Tower duplex. The four-bedroom "smart house," is down from a high of $14.995 million to $12 million. The listing is here.
--via Curbed, architect Dean Maltz has paid $3.4179 million for a four-bedroom apartment at the Metal Shutter Houses at 524 West 19th Street.
--Gisele Bundchen has officially sold her triplex penthouse at 347 West 11th Street. The 1,700-square-foot apartment, which originally hit the market for $10.9 million sold for $4.4 million.
--Steven "Mac" Heller, the former head of investment banking at Goldman Sachs, has sold his three-bedroom apartment at 14 East 75th Street for $4.725 million.
--via Newsday's Real LI, Billionaire Ron Lauder has sold a 2.77-acre estate in Wainscott for $5.256 million to his daughter Aerin Lauder Zinterhofer.
--Former Ariba CEO Lawrence Mueller and his wife Mary Kay have gone into contract to sell their condo at 15 Central Park West. The three-bedroom apartment which the couple first listed for $16.5 million in May was reduced to $15.5 million in October.
--Alex Acquavella, the son of top NYC art dealer Bill Acquavella, has paid $3.9 million for an apartment at 50 Gramercy Park North.
--Melvyn Blum, a retired EVP at Vornado Realty Trust, has sold his apartment at the Trump International for $6.4375 million.
--via the NY Observer, the Rothschild Mansion has undergone a price cut for the third time this year. It was once listed as high as $35 million and is now listed for $25.5 million. The listing is here.

From the NY Post:
--A four-bedroom condo at The Dakota is in contract for $11.5 million after once being listed for as much as $24 million. The buyer is Mark Fisch, managing partner at Continental Properties, a New Jersey-based real estate firm.
--Nicolas Cage's Olympic Tower condo at 641 Fifth Ave. has just closed at $7.5 million.

--At 76 Crosby St., where Kelly Ripa has a duplex penthouse there was a bidding war for a 2,578-square-foot apartment with a $4.35 million listing price. The two-bedroom home with a deep soaking tub in the master bedroom suite is now in contract after about three months on the market.The new owner will share the second floor with Gawker Media boss Nick Denton. The listing is here.

From the Wall Street Journal's Private Properties:
Fashion mogul Tommy Hilfiger has finally sold Stone Hill, his Greenwich, Connecticut home for $20 million. He first listed the estate more than a year ago for $27.9 million.

--The heirs of a California builder have listed the 600-acre Middle Ranch, the getaway spot of film director Cecil B. DeMille, for $28 million. The listing is here.


From the Chicago Tribune's Elite Street:
--Chicago Bears player Dusty Dvoracek has sold his Lake Villa home to teammate Juaquin Iglesias for $344,500. Dvoracek purchased the home in 2006 for $365,000. In January he listed the home for $389,900.
--White House chief of staff Rahm Emanuel has rented out his four-bedroom, 2,719-square-foot house in Chicago's Lakeview neighborhood for one year for $4,995 a month. Emanuel purchased the house in December 1998 for $695,000.
--Nancy Hughes, the widow of filmmaker John Hughes, has bought a 17-room, 6,700-square-foot English country-style house in east Lake Forest, about a block from Lake Michigan, for $5.2 million.

From the Real Estalker:
--Real Housewives of Atlanta's Kim Zolciak is not moving to Los Angeles and is staying put in her Atlanta, GA area townhouse condo.
--Zsa-Zsa Gabor may have lost as much as $10,000,000 in the Madoff scandal and has had a $118,000 tax lien placed against her Bel Air Road residence. An unpaid tax lien can force the sale of a property if the debt is not paid.
--LaToya Jackson has seen condominium at the Regency Towers inside the Las Vegas Country Club in Las Vegas, NV taken away from her in foreclosure proceedings. Rumor has it that she now lives in a condo in one of the tall apartment towers that line Wilshire Boulevard near Westwood and Century City.
--Actor Gale Harold has listed a four-bedroom duplex in Los Angeles for $1.3 million.
--Ali Larter and Hayes MacArthur have picked up a four-bedroom home in Los Angeles for $2.925 million.
--Nicolas Cage has listed a three-bedroom home in Newport Beach, California for $995,000. He bought the home in 2006 for $1.7 million for his father who recently died. The listing is here.

From Berg Properties Big Time Listings:
--Actor Rob Lowe and his makeup artist wife, Sheryl Berkoff, have sold a six-bedroom house in Montecito, Calif. for $7.6 million.
--A look at "Harry Potter" actor Rupert Grint's real-estate empire: two country mansions plus another house, all worth about 9.2 million pounds.

From Brickwork: The London Property Blog:
--via Telegraph, Suzie Quatro, best known to U.S. fans as Leather Tuscadero from Happy Days is selling her mansion 'Hyde Hall' for £2.3 million. The listing is here.

It's official, Nic Cage is no longer a homeowner in New Orleans. The Times-Picayune reports on the foreclosure auction which saw Cage losing both his French Quarter and Garden District homes. Cage's lender, Regions Bank, bought both homes back for a total of $4.5 million, which is two-thirds of the value that appraisers hired by the bank had determined they were worth. There were no other bids for the property. Cage did not attend the auction. The city will collect $151,729 in unpaid property taxes. Cage owed approximately $5.5 million on the homes. The bank is free to go after Hancock Park Real Estate Company, Cage's real estate holding company, for the other $1 million and can also try to sell the homes at market value to raise the money.

Cage bought his six-bedroom Garden District home in 2005 for $3.45 million and listed it for sale for $3.7 million. Cage's New Orleans other home, the haunted LaLaurie mansion was bought by Cage in 2006 for $3.45 million. He listed it for $3.9 million. He has blamed his former business manager, Sam Levin, for his recent financial woes including a $6 million IRS bill. He still has homes in Las Vegas, England, Rhode Island and the Bahamas either on the market or about to be sold.

We've been hearing rumors of it for a while but Stephen Shapiro, the real estate agent for Nicolas Cage's Bel Air mansion, confirmed to Curbed LA that an offer for the house has been accepted. The home was first on the market at $35 million and after time on and off the MLS plummeted to $17.5 million. In early September a sealed bid action was set with a minimum bid of $9.95 million. Shapiro didn't reveal who has purchased the home or for how much although one of Curbed's commenters suggests $15 million which seems to be a fairly decent guess and would still allow Cage a nice profit above the $6.469 million he paid in 1998.

Last week Cage sued his former business manager for at least $20 million claiming that the manager, Stephen Levin, mismanaged his funds so badly that he has been forced to liquidate his real estate holdings. Cage also still has an over $6 million IRS bill to satisfy.

Thanks to those of you who forwarded me the latest on the Nicolas Cage saga,This week we saw his two New Orleans houses listed in a sheriff's sale and heard rumors that he is selling his castle in Bath, England. Many have speculated about what could have happened to Cage, a man who has made a great deal of money over the years for starring in many Hollywood blockbusters.

Now it turns out that Cage has someone to blame, his business manager Samuel Levin. TMZ has a copy of a lawsuit filed in Los Angeles County Superior Court. The suit claims that Levin was reckless and incompetent and put Cage into a situation in which he has to sell off major assets and is facing tax liabilities (he owes the IRS over $6 million). Cage wants at least $20 million minimum from Levin in order to set things right, a number that reflects just how much Cage has lost over real estate deals in the past couple of years. Levin worked for Cage seven years but it wasn't until he fired Levin that Cage said he learned the full extent of the damage done.


[Thanks Stephen and Bill]