Tom Brady is finishing up construction on his $17 million property in Miami, for which he took out a large loan
The primary concrete frame of Tom Brady’s $17 million estate is now complete, and workers are currently installing floor to ceiling windows and massive air conditioning units, according to DailyMail.com aerial images. This indicates that the mansion is getting closer to completion.
According to DailyMail.com, the well-known quarterback, who is supposedly worth over $500 million, decided to take out a massive mortgage for the entire sum plus the possibility to borrow an additional $17 million, rather than contributing anything towards the purchаse of the property.
The home on Miami’s upscale Indian Creek Island was purchased in October 2020 by Gisele Bündchen’s ex.
When the pair split last year, Brady took on the building’s renovations while Bündchen moved on to buy her own property across the waterway.
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Exclusive aerial images show construction on Tom Brady’s $17million Creek Island mansion in Miami is almost complete
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DailyMail.com can reveаl that Tom Brady, who is worth over $500million, took out a massive home loan, with monthly repayments of about $90,083 plus property taxes, while ex-wife Gisele paid for her $11million home outright
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The main concrete frame of the property is now complete and builders are currently fitting floor-to-ceiling windows
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When the pair split last year, Brady took on the building’s renovations while Bündchen moved onto buy other properties across the waterway
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Large air conditioning units are seen on the property pumping air into the structure, as dirt sits where luscious grass will soon be
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Brady’s spot seems tailor-made for the star, and will include an organic garden, a pickleball court, yoga terrace, solar panels, a cabana, main and outdoor kitchen
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Builders are working around the clock to finish Tom Brady’s mansion (center) on exclusive Indian Creek in Miami
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DailyMail.com can reveаl that the famed quarterback, reportedly worth over $500 million, didn’t put anything towards the purchаse of the property, but chose to take out a colossal mortgage for the full amount plus the option to borrow a further $17million
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The property on exclusive Indian Creek Island in Miami was bought in October 2020, with ex Gisele Bündchen
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When the couple split last year, Brady took on the building’s renovations while Bündchen moved on to buy her own property across the waterway
The 45-year-old athlete’s home loan is with Comerica Bank via an LLC connected to Brady’s close buddy, millionaire real estate tycoon Jeffrey Soffer, Elle MacPherson’s ex-husband, according to the mortgage deed.
With a 20-year term and an interest rate of 2.5 percent for most homeowners at the time, the monthly payments would come to $90,083 plus property taxes.
Building records show that Bündchen spent $1.3 million for a three-bedroom waterfront property in Surfside that she had refurbished prior to the couple’s October announcement of their breakup.
The 42-year-old then spent $11.5 million for a 6,600 square foot, five-bedroom house that was located across the street from the smaller one and across from the residence of her ex-husband.
Documents reveаl that Bündchen used the Onix Trust, whose trustee is her sister Patricia Pereira, to pay for this entirely without taking out a mortgage.
Aerial images of DailyMail.com reveаl that it is undergoing renovations.
Although it’s hard to tell what modifications are being done to the front, the main structure has scaffolding on it, the garden is filled with construction debris, and the backyard pool has turned green and is obviously not in use.
It also looks like a number of the doors and windows are boarded up.
Bündchen doesn’t seem to have moved into the house, which also boasts a home cinema and a gym.
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According to the mortgage deed, the 45-year-old sport star’s home loan is with Comerica Bank through an LLC linked to a good friend of Brady’s, billionaire property mogul Jeffrey Soffer, ex-husband of Elle MacPherson.
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The deal is for 20 years and, at the time, a typical homeowner’s interest rate was 2.5 per cent, meaning monthly repayments of $90,083 plus property taxes.
The former couple had aimed to build a forever home in Miami’s Indian Creek Country Club community for themselves and their children, John Edward, 14 Benjamin, 13, and Vivian, 10.
They tore down a pre-existing 5,772sqft home on the lot and since the breakup Brady has taken on the construction of the state-of-the-art eco-friendly mansion in its place.
The total cost of the house is set to be near $30million, as they paid $17million for the land and an additional $10.12million in building costs for the custom home.
It’s not known if Brady is using the mortgage’s borrowing facility to subsidize the construction costs.
The agreement with Comerica Bank states that ‘this mortgage is given to secure not only the existing indebtedness of $17,000,000… but also such future advances up to an additional $17,00,000 as are made within 20 years.’
The 1.8-acre property encompasses three buildings – a main house, a security post and gym.
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Bündchen is renovating the $11.5 million mansion in Surfside, Miami, which she bought outright in October 2022 after splitting from Brady
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The backyard pool is now a green color and clearly out of use, while there’s scaffolding on the main building and the garden is littered with building material. Several of the windows and doors also appear to be boarded up
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The former couple had aimed to build a forever home in Miami’s Indian Creek Country Club community for themselves and their children, John Edward, 14 Benjamin, 13, and Vivian, 10
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The island – less than half a square mile in size – has been a magnet for billionaires, celebrities and power couples who’ve sought it out because it its privacy and security
Brady’s spot seems tailor-made for the star, and will include an organic garden, a pickleball court, yoga terrace, solar panels, a cabana, main and outdoor kitchen.
Floor plans of the home obtained by the New York Post shows that it spans an enormous 17,000sqft, and includes five bedrooms and 11 bathrooms, along with an elevator, a movie theatre and a guest suite.
Indian Creek Island is dubbed ‘Billionaire’s Bunker’ because of the sheer number of celebrities and high-rollers in the vicinity, including Ivanka Trump and Jared Kushner.
Only accessible by a bridge that’s manned by a guard, the island boasts 24-hour security by land, air and sea. The 300-acre island is occupied by just 34 estates with a median value of $20million.
