Cage Sells Foreclosed Home

Who would’ve thought Nicolas Cage’s home would’ve sold so fast? Actually, it’s not surprising. A real estate broker confirmed that the Las Vegas mansion once owned by the Oscar-winning actor sold for nearly $5 million in its first day on the market.

Kenneth Lowman, owner of Luxury Homes of Las Vegas, says the 14,300-square-foot, bank-owned home sold for close to the asking price of $4.95 million. Lowman says the sale is expected to close on Wednesday.

The home was foreclosed on account of Cage’s tax woes, but not for long. The actor supposedly owes millions of dollars to the IRS in unpaid taxes, and has had to sell numerous assets because of it.

Cage has sued his former business manager in October for $20 million, saying the man’s advice led him toward ruin.

A finance director in Rhode Island said this month that Cage owed roughly $128,000 in unpaid taxes on a mansion there.