Oooo-wee children, Your Mama bets Mister Nicolas Cage's real estate panties are all in a snit this week. While poor Mister Cage has whacked the asking price of his languishing on the market Copa de Oro Road residence from $35,000,000 to $19,750,000 and still not attracted a serious buyer, the property immediately next door sold off-market for what Your Mama hears was $22,000,000.We first heard of the 8-figure transaction a week or so ago from the ever-accurate Nelly Knowsitall and then again later from Our Fairy Godmother in Bel Air who both whispered in our big ol' ear that the renovated residence was purchased by diminutive super-producer Brad Grey.
Mister Grey is currently chairman and chief executive of Paramount Pictures and his gilded hands have successfully produced scads of tee-vee programs including The Sopranos, Real Time with Bill Maher, Just Shoot Me, and The Larry Sanders Show. His impressive film credits include Running With Scissors (which was really a much better book than movie), The Departed, Charlie and the Chocolate Factory, The Wedding Singer and The Cable Guy.
Anyhoo, it appears that the dignified white Colonial style crib–or maybe it's Georgian–with black shutters was never on the open market and as best as we can figure was sold by an heir of the recently deceased Franklin Otis Booth Jr. who made some of his billion or two bucks by doing bizness with Oracle of Omaha investor Warren Buffet. Records indicate that a trust controlled by Mister Booth purchased the property in May of 2003 from none other than, surprise!, next door neighbor Nicolas Cage.
Records show the "L" shaped house measures 10,616 square feet and includes four bedrooms and 7 terlits. Since we were unable to locate any listing information that's all the 411 we have on the house and we're just going to have to assume the property records on file with the County of Los Angeles are correct.
In addition to Mister Cage and one of his many real estate white elephants, nearby neighbors include Paris' parents Rick and Kathy Hilton and the sprawling, newly built multi-winged mansion of Benny Alagem who founded Packard Bell Electronics and now owns, among many other things, The Beverly Hills Hilton hotel
Given that Mister and Missus Grey are heading to the court of dee-vorce, it's unclear who will live in the Copa de Oro Road residence and who will live in the family's 13,143 square foot spread on Monaco Drive in the ritzy Riviera area of Pacific Palisades. Records reveal that Mister Grey also own an oceanfront getaway on a particularly posh stretch of sand on Broad Beach Road in Malee-boo where property records reveal nearby neighbors include aged lounge lizards Steve Lawrence and Eydie Gormé and tool tycoon Eric Smidt who in 2005 famously paid a reported $46,000,000 for the The Knoll, the late Marvin Davis' legendary and vast Beverly Hills estate.
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