Looks like celebs aren’t immune to the dipping real estate market. A real estate broker says Nicolas Cage’s $8.5 million 14,300-sq.-ft. foreclosed home in Vegas sold for $5 million its first day on the market. The buyer has not yet been identified.
The lavish mansion, which the actor bought before running up a $6.3 million tax bill, boasts six bedrooms, seven-and-a-half baths, a 16-car subterranean garage, a theater and a glorious view of the city’s downtown Strip. Estate agent Ken Lowman, who sold the house on behalf of the bank who foreclosed the property, said he believed Cage had bought it as an investment.
Cage, 46, earns $20 million per film, and his latest, the supernatural thriller Season of the Witch, opens March 19.
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January 29, 2010San Francisco Skyscrapers in Jeopardy
