BEL AIR— Nicolas Cage’s Bel Air mansion sold for $10.5 million, considerably less than the $35 million the property had been listed at originally. According to real estate search engine Trulia, “The average listing price for similar homes for sale is $15,431,172 and the average sales price for similar recently sold homes is $7,451,083.” The 11,817-square-foot residence’s previous owners include legendary crooner Tom Jones and Rat Pack member, Dean Martin.
According to a press release, Cage also lost a Las Vegas home to foreclosure earlier this year. He had originally purchased the 14,306-square-foot luxury Spanish Heights home for $8,500,000 and the property is now bank-owned at $4,950,000.
The cause of foreclosures appears to be the result of a long stream of financial problems for the Oscar-winning actor.