Nicolas Cage makes a sale

Nicolas Cage has finally found a buyer in this tight market. Fashion designer Christian Audigier has reportedly snapped up the actor’s famous Bel Air property.

Cage’s mansion was once home to both Dean Martin and Tom Jones and has been on the market since 2007. Even the rich and famous have been affected by the plummeting real estate market. Cage cut the asking price in half earlier this summer, though it’s not known exactly what Audigier, who also co-owns the Holmby Hills mansion Michael Jackson called home during the last months of his life, paid.

According, to RadarOnline.com, Cage was selling at a drastically reduced $17.5 million.

“I believe it was a one-to-one deal. Christian knows Nicolas and they did the deal between themselves,” said a source.

Cage is busy offloading plenty of property. He has also reduced the price of his 12 bedroom estate in Rhode Island, which hit the property market last year for $16 million. According to RealEstalker.com, he’s now asking $12 million for the home. On the market elsewhere is a two-unit condominium at the Olympic Tower in New York, two homes in New Orleans, Louisiana and a house in Las Vegas.

Reports suggest he recently sold property in Malibu, California and a castle in Germany. He still owns an estate in England, a second home in Malibu and a spread in the Bahamas, so we’re pretty sure he won’t be homeless.