Nicolas Cage Eats Loss on R.I. Mansion Sale
Cage purchased the estate for $15.7 million in 2007, when prices were nearing their pre-bubble peak. But the housing crisis, coupled with Cage's continued financial problems, has forced the actor to sell far below market value. According to the Providence Journal, Cage owed approximately $128,000 in unpaid taxes on the property.
Built in 1924, the English-style manor sits on over 26 acres and offers views of the Atlantic Ocean. Other features include a library with barrel-vaulted ceilings, a "vintage conservatory," a gourmet kitchen and a new home gym. Click the slideshow below to see photos of the princely estate.
Don't forget to visit our other celebrity real estate coverage.
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.