MIDDLETOWN – Actor Nicolas Cage’s Middletown mansion can be purchased for a little less than initially requested.
The actor first listed the Gray Craig estate for $19 million in 2008, just a year after purchasing it for $15.7 million. But the price has slowly come down and last week the price fell to $7.75 million, according to Melanie Delman, president of Lila Delman Real Estate, which lists the property. (Technically, Cage’s Hancock Park Real Estate Trust owns the estate.)
Delman told Providence Business News that Cage’s decision to quickly put the home back on the market left little time to identify the right price point.
“It’s just a timing thing that occurred there and we’ll see what happens, but hopefully that price will be so attractive it will be sold,” she said.
The brick and stone mansion built in 1924 offers sweeping views of Nelson Pond and the Atlantic Ocean. The listing boasts that the home includes a “library with a soaring barrel-vaulted ceiling, a formal living room with sweeping water views, a spacious dining room, a vintage conservatory, a handsome billiard room, and a gourmet kitchen with stone fireplace, custom hickory ceilings and antique terra cotta floor tiles.”
But would-be buyers should act quickly. Delman said there is an offer on the table.
“It’s a huge opportunity for someone that’s looking for luxury or high-end investment,” she said.
Cage continues to own the estate despite his personal financial woes that have forced him to sell many of his homes. In January, the Internal Revenue Service placed a $13.3 million lien on the Middletown property for overdue taxes, according to public records.
