April 08, 2010 at 09:03 PM EDT

Nicolas Cage has reportedly lost his 11,817 square-foot mansion in Bel-Air, Calif., to a foreclosing lender, according to the Los Angeles Times. The six-bedroom, nine-bathroom property was put up for auction Wednesday morning at an opening bid of $10.4 million (Cage had previously attempted to sell the house for $35 million). But there were still no buyers interested in the mansion, which a real-estate agent had described as a “frat house bordello” that contained “300 comic-book covers elaborately framed and hanging on the walls.” Additionally, the house features model train sets located near the ceilings of two bedrooms and the breakfast room.

With no bids, the Wednesday auction closed in less than a minute, and the home’s ownership was transferred to the foreclosing lender. Cage, who has recently been undergoing financial troubles, sued his former business manager for $20 million in October, accusing him of mishandling the actor’s finances.

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