Nicolas Cage’s former home sells for $6M

Nicolas Cage’s erstwhile Spanish Hills location astir became his caller treasure, but alternatively he’s leaving his Las Vegas past behind.

Cage, the “Leaving Las Vegas” and “National Treasure” star, toured his one-time location connected Spanish Heights Drive connected 2 antithetic occasions, but it was different purchaser who paid $6 cardinal for the seven-bedroom location that measures 14,306 quadrate feet and sits connected 0.36 acres.

Cage’s erstwhile southwest vale location marked the second-highest terms paid for a Las Vegas location successful July. That location was lone eclipsed by the $10.5 cardinal paid for a location successful the Henderson luxury hillside assemblage of Ascaya, wherever KISS rocker Gene Simmons volition beryllium their caller neighbor. Simmons bought a location this summertime successful Ascaya.

Cage’s erstwhile home

Cage bought the Spanish Hills location successful 2006 for $8.5 cardinal but mislaid it to foreclosure during the lodging downturn conscionable arsenic galore others did successful the valley. It was sold successful 2010 for $4.95 million.

When the location went backmost connected the marketplace successful 2020, Susie Perrine, broker and proprietor of Las Vegas International Realty, the Realtor representing the Nebraska-based seller, said Cage made 2 visits to the location to see repurchasing it. One of those visits took spot successful January with his 5th wife, Riko Shibata, 26, who the 57-year-old Cage aboriginal joined successful February successful Las Vegas. Cage was joined to his 3rd wife, Alice Kim, erstwhile helium owned the Spanish Hills home.

“He came backmost to look astatine it a fewer times this past twelvemonth to see it, and helium was truthful excited to spot it and talking astir each the bully times helium had there,” according to Perrine, who declined to picture the couple’s interactions aft they saw it together.

In summation to 7 bedrooms, the two-story location built successful 2003 has 11 bathrooms, a commercialized elevator, 10-car garage, media room, office, crippled country and a 3,000-square-foot maestro suite overlooking the valley. The maestro bath has a steam and sauna. A basement has luxury finishes, kitchenette unit quarters and crippled room.

“The location features the champion presumption of Las Vegas,” according to Perrine who managed the spot for 9 years.

The location was bought by Randy and Sarah Greenberg of Southern California. She represented herself arsenic the Realtor successful the transaction.

Perrine said she had a batch of buyers from Southern California funny successful the home, including Simmons earlier helium bought successful Ascaya. Perrine said Simmons wanted a newer location and not 1 helium had to remodel.

There were different entertainers funny successful the location arsenic well, she said. Perrine said the location is truthful fashionable that she has a purchaser consenting to wage the caller owners $1 cardinal much than they paid.

“Spanish Hills not lone has the champion presumption of Las Vegas, but it is truthful adjacent to the Strip,” Perrine said. “It’s close astir the country from the freeway.”

Perrine, who’s been a Realtor for much than 40 years, said she’s ne'er seen a luxury marketplace similar this successful Las Vegas. “It has been unbelievable,” Perrine said. “I unrecorded successful Spanish Trails and ne'er successful the past of Spanish Trails person we ever had truthful galore sales. We person had a record-breaking twelvemonth and astir everybody is from California.”

Ascaya location sells for $10.5 million

Luxury Realtor Kristen Routh-Silberman with Synergy Sotheby’s International Realty was the listing cause successful the merchantability for a $10.5 cardinal location designed by Las Vegas designer Richard Luke. It was built successful 2020 and sits connected a half-acre.

The two-story location measures 10,030 quadrate feet with 7 bedrooms and 5 baths. It has a four-car garage, 10-seat movie theater, billiard room, crippled room, vino and whisky bar, solid vino cellar, office, outdoor kitchen, infinity excavation and spa.

“It’s a flawless modern home,” Routh-Silberman said. “It’s precise glamorous and stunning. It has each the bells and whistles but the pièce de résistance is that each azygous chamber successful the location has a Strip view. Every country connected some stories has a Strip presumption but for the theatre and garage. The eating room, surviving room, large room, billiard and crippled room, barroom and adjacent the vino cellar person Strip views.”

Emily Sherwood with Windermere Prestige Properties represented the buyer, Robert and Jean Ann McCoy, who relocated to Ascaya from Southern Highlands. The sellers were Iqbal and Farzana Hussain, who are gathering a location successful MacDonald Highlands successful Henderson. Hussain is simply a section concern owner.

Las Vegas luxury market

The latest numbers collected by Forrest Barbee, the firm broker astatine Berkshire Hathaway HomeServices, Nevada Properties, shows determination were 166 income of condos and homes of $1 cardinal and higher successful Southern Nevada. That falls abbreviated of the grounds of 172 successful March.

For the twelvemonth done July, determination person been 1,023 luxury sales, blowing past the grounds of 825 successful each of 2020. There were 183 luxury income pending astatine the extremity of July.

The mean terms of properties sold successful July was $1.95 million, up from $1.73 cardinal a twelvemonth ago. Properties that sold sat connected the marketplace for 58 days compared to 105 days a twelvemonth ago, according to Barbee. There’s a four-month inventory of luxury homes, down from 10 months a twelvemonth ago.

Routh-Silberman said she hasn’t seen immoderate signs of a slowdown successful the luxury market. She usually doesn’t person unfastened houses successful August erstwhile it’s truthful blistery but had 1 successful MacDonald Highlands past week that had 26 qualified buyers for the location listed for $8.75 million.

“It’s hard to get 26 qualified buyers successful the outpouring and autumn fto unsocial connected a 100-degree time with fume (from wildfires) successful the air,” Routh-Silberman said. “That location is not going to past long.” Routh-Silberman said she expects to adjacent soon connected different location successful MacDonald Highlands for $12.25 million.

She said the escalation of COVID-19 cases with the Delta variant whitethorn spur adjacent much relocations to Las Vegas and origin section residents to enactment their homes connected the marketplace to alteration their surviving arrangements.

“This is the busiest July and August I person seen successful the past 10 years,” Routh-Silberman said. “I expect much houses to travel connected the marketplace successful the fall. We’re tilted much toward the seller’s marketplace due to the fact that determination isn’t arsenic overmuch inventory oregon the inventory moves fast. But everybody gets their location acceptable during the summertime to spell connected the marketplace successful the autumn due to the fact that autumn and outpouring are traditionally our champion times.”

Luxury Realtor Ivan Sher with the Ivan Sher Group of Berkshire Hathaway HomeService said he’s seen a flimsy slowdown successful July and August due to the fact that of the vigor but expects a beardown decorativeness to 2021.

“I expect the 4th fourth to beryllium phenomenal,” Sher said. “I expect California to recognize that (Gov. Gavin Newsom) did not get recalled, and that they person precise small enactment from a fiscal standpoint and socio-economic livability standpoint. Vegas is decidedly the closest and cost-of- surviving is simply a fraction of what it is successful California.”

Anthony Spiegel, a broker-salesperson with Berkshire Hathaway HomeServices Luxury Collection, said the luxury marketplace continues to beryllium amazing. Over the past decade, Las Vegas has sold 190 homes priced much than $4 billion, but fractional of those happened successful the past 18 months.

The mean database terms successful July was $2.85 million, up from $2.5 cardinal a twelvemonth ago, according to Barbee. Nearly 600 homes and condos priced $1 cardinal and supra were connected the marketplace done the extremity of July, according to Barbee. It was 631 a twelvemonth agone done the extremity of July.

“I’m seeing much inventory travel connected the marketplace comparative to six months agone but overmuch higher valuations,” Spiegel said.