Nicholas Cage Homes Go to Foreclosure Auction in New Orleans

Ouch! Two luxury homes in New Orleans owned by actor Nicholas Cage have been seized and placed up for auction after a local lender foreclosed on them. Things are a little messy as the homes already have $6.6 million worth of liens on them courtesy the Internal Revenue Service.

Cage is apparently blaming his current financial troubles on his former business manager Mr. S Levin for “negligence,” although I suspect it is more a case of when real estate values go up everything is fine, but when they go down it is “negligence.” Either way, the two properties in new Orleans will be auctioned off on November 12th.

The properties are: 1140 Royal St, 10,300-square-foot mansion known as “The LaLaurie Mansion,” and 2523 Prytania St, a 13,000-square-foot mansion which includes formal gardens. The auction will be held at noon on Thursday the 12th in the lobby of Orleans Parish Civil District court at 421 Loyola Ave – http://www.orleanscdc.com/index.shtm

Cage has already disposed of a number of European assets – all at a loss, including a castle in Germany and a $6 million home in Bath. Although – there were rumors that he planned to use that money to refurbish another castle in England – Midford Castle. I can’t see it somehow. Midford Castle is at best a money pit and things are not looking good right now.

I would expect Midford also to be placed up for sale in the near future and I very much doubt it would fetch anything like the £5 million Cage paid in 2007. And if you are reading this Mr. Cage – I know a great place to sell your English Castle.

Midford Castle - Nicholas Cage Selling?