Nicolas Cage: One-Man Real Estate Bubble

You may sorta like Nicolas Cage as an OK actor, but real estate agents absolutely adored him, at least until recently, when he began unloading some 15 homes around the world.

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TORONTO, ON - SEPTEMBER 15: Actor Nicolas Cage from the film 'Bad Lieutenant: Port Of Call New Orleans' poses for a portrait during the 2009 Toronto International Film Festival at The Sutton Place Hotel on September 15, 2009 in Toronto, Canada. (Photo by Matt Carr/Getty Images) *** Local Caption *** Nicolas Cage
Cage bought this Tudor mansion in Bel Air, Calif., in 1998 from Tom Jones for $6.47 million. The house, which Dean Martin owned before Jones, has six fireplaces, including one in a bathroom. Cage put it on the market at $30 million a year ago, but recently cut the price to $17.5 million. It is reportedly under contract.
Cage sold off two adjacent units in Manhattan's Olympic Tower on Fifth Avenue in October. Although the condos were listed for $9.7 million, he sold units 48G and 48H for $7.5 million.
When Cage saw the Gray Craig estate in Middletown, Rhode Island, he had to have it. But 14 months later, when he realized it was in Middletown, R.I., he just had to sell it. The 24,000-square-foot country manor and its 26 acres is listed at $15.9 million, some $200,000 more than he paid for it. So far, no takers.
Somehow, Cage found himself in Bath, England, where he promptly bought three homes, including the Midford Castle, for $7.74 million in July, 2007. Maybe he found it a bit drafty: He sold it for a $3 million loss earlier this year. He still reportedly owns a place in nearby Baltonsborough he snapped up in 2006 for $1.425 million.
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Cage's other homes in Bath, England, include a 9,000-square-foot townhouse in the town's famous Georgian Crescent that he bought for $4.9 million in May 2007. He sold it less than two years later for $5.7 million. Wait, he made money?
Sure, The LaLaurie House in New Orleans' French Quarter is supposedly haunted, but that didn't stop ol' Nick. In April 2007, he bought the 10,300-square-foot-home for $3.45 million. Last month, the Regions Bank of Birmingham snapped it up out of foreclosure for $2.3 million.
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Novelist Anne Rice sold this New Orleans home to Cage in 2005 for $4.5 million. Like his other Big Easy crib, this 13,176-square-foot mansion built in 1865 is supposed to be haunted. Regions Bank of Birmingham snagged it out of foreclosure for $2.2 million.
Cage bought this cottage on Balboa Peninsula in Newport, Calif., for $1.7 million in December 2006. His father had lived there until his death earlier this year. In November, Cage took the home off the market after failing to sell it despite lowering the price from $1.9 million to $995,000.
Christie's Great Estates
Maybe Cage was passing by in his absurd yacht when he saw a "For Sale" sign on this undeveloped, 45-acre Bahamas island called Leaf Cay. He paid $3 million for it, but he's now trying to sell it for $7 million.
Steve High and Evan Corkett Property Listings
Cage paid $25 million for this Newport Beach, Calif., mansion in July 2005. The 4,400-square-foot home features a dock built to accommodate 150-foot-yachts. Cage sold it last year for $35 million after getting freaked out by a naked burglar. Ten million dollar profit, cha-ching!
Marquette Turner Luxury Homes
In February, 2007 (why yes, right around the top of the real estate bubble), Cage paid $8.5 million for this custom Las Vegas mansion. He must've like it better than the home on the same block he bought in 2005 for $2.25 million. Ah well, the Nevada State Bank bought it on Dec. 3 in a foreclosure sale for $4.9 million.
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For much of his life, Cage had no German castle. But he rectified that injustice in 2006, buying Neidstein Castle for $2.34 million. He sold the 11th-century castle in Etzelwang, Bavaria, this year for $2.2 million.
Cage leased this 3,500-square-foot loft in Los Angeles' Biscuit Company building at the same time that he owned a gazillion homes. But he's out now and it's for sale.
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