Actor Nicolas Cage sells his Newport Beach, CA home for $35 Million setting record price.
Actor Nicolas Cage sold his Newport Beach, Calif., house last week for $35 million - setting a new record for Orange County. Nicolas Cage paid $25 million for the nearly 0.6-acre property in 2005. The buyer, 70-year-old Jerry Herbst, is owner, chairman and president of Las Vegas-based Terrible Herbst, which runs gas stations and other retail operations. Orange County's previous record home-sale price was $30 million, a deal that closed in the summer of 2007 in Laguna Beach.
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