Over the last few years real estate gossips around the world spent (too) many hours and ten tons of ink dutifully documenting the spectacular, painful and byzantine financial fall from grace experienced by Oscar-winning actor Nice Cage. Although Mister Cage was paid $20,000,000 for at least three of the dozens of movies in which he's starred he still somehow managed to find himself in a serious financial pickle. Mister Cage claims he was led down the financial garden path by a business manager who mismanaged his money. Be that as it may or may not be, Mister Cage was a notoriously prolific spender who all but tossed his money out the window on a myriad of non-necessities such as a collection of 30-50 cars, a couple big boats, a Gulfstream jet, a dinosaur skull, a zoo's worth of exotic pets and lavish residences around the world.At one time in the not so distant past Mister Cage's property portfolio bulged with at least a dozen posh and pricey properties across the globe including (but not limited to) a Bavarian schloss, a 14th-century English castle, a private island in the Bahamas, a multi-unit combo condo in Midtown Manhattan, a ranch in Malibu, an historic estate in Middletown, RI, a turn of the century mansion in San Francisco, a bloated mansion in a gated enclave in Las Vegas, NV, and a harbor front mansion down behind the Orange (County) Curtain in Newport Beach, CA.
The bottom falling out of Mister Cage's finances resulted several of his properties falling into foreclosure, including (but not limited to) a pair of historic mansions in New Orleans, LA as well as his primary residence on Copa De Oro Road in prime West Gate Bel Air, a fabled and stately Gerard Colcord-designed sprawler previously owned by boozy Rat Packer Dean Martin and hairy-chested cheese ball crooner Tom Jones.
Now brace yourselves, pussy willows, because just when the children thought they'd never have to hear another damn word about Nic Cage's deep and wide real estate woes Your Mama gets a covert communique from our trusted informant The Rolling Stone who provided us with information that shows yet another of Mister Cage's many properties was recently lost into the gaping maw of foreclosure.
Property records show that in May of 2001 Mister Cage's well-known and famously-embattled Hancock Park Real Estate Trust paid $2,695,000 for a 6,312 square foot house with 5 bedrooms and 7 poopers on the busy northeast corner of S. Rossmore Avenue and West 6th Street in Los Angeles's upscale Hancock Park 'hood.
We don't actually know a lamp post from a post office, but it's Your Mama's understanding that the four-building compound in Hancock Park was purchased for use by Mister Cage's baby momma Christina Fulton. In late 2009, after receiving an order to vacate the property due Mister Cage's increasingly precarious financial issue, Miz Fulton sued Mister Cage for $13,000,000 and ownership of the Hancock Park house in which she was living.
We're not sure of the status of Miz Fulton's lawsuit or if some agreement was reached outside the courtroom but we do know that Miz Fulton had to pack her bags and get out of Dodge. Property records reveal that on the 15th of September 2010 a third and final Notice of Default was filed and recorded and, according to foreclosure database RealtyTrac, on the 10th of February 2011 the Hancock Park property was officially snatched back by Cage's creditors with about $2,900,000 owed on the spread.
Fortunately for Mister Cage and his beleaguered bank accounts he has at least four films coming out in 2001 (including The Hungry Rabbit Jumps with January Jones) and a trio of films scheduled to be completed in 2012.
photo: Bing
