Seven-time Super Bowl champion Tom Brady secured a $35 million construction loan for his Indian Creek Village mansion, property records show.
Brady, who retired from the NFL for the second and final time this year, bought the lot at 26 Indian Creek Island Road in late 2020 with his then-wife, supermodel Gisele Bundchen. They bought the nearly 2-acre waterfront property for $17 million through a limited liability company managed by Fontainebleau Development executives. Brady is a good friend of developer Jeff Soffer, owner of Fontainebleau Development.
Fontainebleau Construction lodged two notices to commence in 2021, marking the commencement of construction on the site. Documents show that Brady plans to build a two-story residence that will include a security building, gym, cabana, swimming pool, sports court, emergency generator and more.
Brady secured new financing from JPMorgan through a hidden limited liability company. Mortgage documents show San Francisco-based First Republic Bank as the original lender. The FDIC took over First Republic in May and sold it to JPMorgan. The bank failure marked the second-largest failure in U.S. history.
Brady’s loan has an initial annual interest rate of 8.25% during construction. It is due in June 2025, at which time the borrower may refinance.
Brady and Bundchen, who announced their divorce last year, plan to co-parent their children in South Florida. Before their divorce, they rented a four-bedroom, 4,300-square-foot beachfront home at nearby 29 Indian Creek Island Road. Brady has since signed a lease for luxury apartments at the beachfront Fendi Château Residences complex in Surfside.
Bündchen is not far away. She paid $11.5 million through a trust in October to demolish the waterfront at 1400 Biscaya Drive in Surfside, records show. Built in 1981, the 6,600-square-foot home sits on 0.4 acres across the water from the Indian Creek mansion Brady is building.
Indian Creek is a small gated community that is home to billionaire Carl Icahn, billionaire hedge funder Eddie Lampert, Taubco CEO Irwin Tauber, Hotels.com co-founder Bob Diener, billionaire airline co-founder IndiGo Rakesh Gangwal and Ivanka’s home Two years ago, Trump and Jared Kushner bought a waterfront property on the island for $24 million.
