Nicholas Cage is feeling the unbearable weight of one massive private island.
The Oscar-winning actor, who once owned as many as 15 luxury homes, sold off the majority of his real estate portfolio roughly a decade ago to pay back a hefty tax debt. (You might also remember reading how he blew his $150 million fortune on outlandish things like a… dinosaur skull.) But he’s still struggling to offload Leaf Cay in the Bahamas.
The idyllic island, which is located in the Exumas archipelago about 85 miles southeast of Nassau, was reportedly purchased by the Hollywood heavyweight in 2006 for $3 million. Spanning a total of 30 acres, it offers three immaculate beaches, as well as protected deep water access for anchoring yachts or tenders.
Leaf Cay comes complete with three beaches.
AP/Christie’s International Real Estate
What’s more, the island is completely undeveloped and essentially a blank canvas for buyers. According to the listing, which is held by Christie’s International Real Estate, there are “full development approvals” to construct five cottages, along with additional support buildings. You also have the green light to convert one of the island’s two large ponds into a marina.
Leaf Cay is in a great location, too. It’s surrounded by some 365 cays and islands that stretch more than 120 miles and feature some standout attractions. The nearby Bock Cay, for example, is reportedly welcoming a $75 million development that will include a golf course, luxury resort, marina and helipad. Leaf Cay is also surrounded by natural wonders and there is excellent fishing in the nearby Exuma Sound.
One of the island’s two large ponds can be converted into a marina.
AP/Christie’s International Real Estate
“Leaf Cay represents the last great private island opportunity at a reasonable price for a fee simple island with crystal clear title, like the beautiful waters that surround it,” Christie’s writes on the listing.
Though Christie’s says Leaf Cay’s price is available upon request, another site called Private Islands Inc. has the island listed at $7.5 million. That means The Unbearable Weight of Massive Talent star will have made a profit of $4.5 million over 16 years. Maybe he can buy himself another dinosaur skull.
Source: Luxury - robbreport.com
