Tom Brady Secures $35 Million Construction Loan for Indian Creek Mansion
June 23, 2023
Tom Brady, the legendary NFL quarterback, and seven-time Super Bowl champion, has secured a $35 million construction loan for his upcoming mansion in Indian Creek Village. Property records confirm the loan agreement, highlighting Brady’s investment in his luxurious new residence.
In late 2020, Brady and his former wife, supermodel Gisele Bündchen, purchased the nearly 2-acre waterfront property at 26 Indian Creek Island Road. The acquisition was made through an LLC managed by executives from Fontainebleau Development, a company owned by Brady’s close friend, developer Jeff Soffer. The couple bought the land for $17 million, laying the foundation for their grand vision.
Fontainebleau Construction, a subsidiary of Fontainebleau Development, initiated the construction process by filing two commencement notices in 2021. According to official filings, Brady’s planned residence will be a two-story home with various amenities, including a security building, gym, cabana, pool, sport court, and an emergency generator.
Brady utilized a hidden LLC to finance the construction project and obtained a $35 million loan from JPMorgan Chase. The initial lender for the loan was First Republic Bank, based in San Francisco, as indicated by the mortgage documents. However, First Republic Bank was seized by the Federal Deposit Insurance Corp. (FDIC) in May and subsequently sold to JPMorgan Chase. The bank’s failure marked one of the largest in U.S. history.
The loan agreement features an 8.25 percent annual interest rate during construction and is set to mature in June 2025. At that point, Brady will likely refinance the loan to continue financing the project.
Brady and Bündchen announced their divorce the previous year but planned to co-parent their children in South Florida. Before their separation, the couple resided in a four-bedroom, 4,300-square-foot waterfront home at 29 Indian Creek Island Road, situated nearby. Following their split, Brady secured a lease for a luxury condo at the oceanfront Fendi Château Residences building in Surfside.
Interestingly, Bündchen also made a real estate investment nearby. Records indicate she purchased a waterfront teardown property at 1400 Biscaya Drive in Surfside for $11.5 million through a trust in October. The property, comprising a 6,600-square-foot house built in 1981, is situated on a 0.4-acre lot across the water from Brady’s forthcoming Indian Creek mansion.
