Nicolas Cage forced to sell two real estate holdings, Aspen chalet may be next

Posted By: The Ski Channel on November 12, 2009 2:04 pm

After a series of disastrous business moves allegedly made by ex-manager Samuel Levin, actor Nicolas Cage was forced to sell off two multi-million dollar New Orleans properties from his real estate portfolio. The two homes had been foreclosed on, and were bought back at auction by seizing creditor Regions Bank.

A 13,000 square-foot French colonial home at 2523 Prytania Street, listed for sale this spring for $3.4 million, was sold for $2.2 million. A second home, the allegedly haunted LaLaurie Mansion on Royal Street in the French quarter, sold for $2.3 million, after being listed for $3.55 million.

The real estate liquidation might not stop there either, as the move alludes to a possible fire sale of his 2.5 million dollar Aspen chalet, a beautiful ski-in and ski-out property.

Cage has been under the microscope in recent weeks as news broke that the  Hollywood actor owes the IRS $6.3 million in back taxes. He is in the process of suing his former business manager, Samuel Levin, for $20 million, claiming his bad advice and management caused his financial woes.