Tom Brady scores $35M construction loan for Indian Creek mansion

Failed First Republic Bank was initial lender; JPMorgan now providing financing

Tom Brady and Indian Creek
Tom Brady and Indian Creek (Getty, Google Maps)

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, acquired the lot at 26 Indian Creek Island Road in late 2020 with his then wife, supermodel Gisele Bündchen. They bought the nearly 2-acre waterfront property via an LLC managed by Fontainebleau Development executives for $17 million. Brady is good friends with developer Jeff Soffer, owner of Fontainebleau Development.

Fontainebleau Construction filed two notices of commencement, marking the beginning of construction, in 2021 for the lot. Brady plans a two-story home with a security building, gym, cabana, pool, sport court, emergency generator and more, according to the filings. 

Brady, through a hidden LLC, secured the new financing from JPMorgan Chase. San Francisco-based First Republic Bank was the initial lender, the mortgage documents show. The Federal Deposit Insurance Corp. seized First Republic in May and sold it to JPMorgan Chase. The bank failure marked the second largest in U.S. history. 

Sign Up for the undefined Newsletter

Brady’s loan has an initial 8.25 percent annual interest rate during the construction period. It matures in June 2025, at which point the borrower would likely refinance. 

Brady and Bündchen announced their divorce last year, and the two plan to co-parent their kids in South Florida. Before the divorce, they rented a four-bedroom, 4,300-square-foot waterfront home at 29 Indian Creek Island Road, nearby. Afterwards, Brady inked a lease for a luxury condo at the oceanfront Fendi Château Residences building in Surfside.

Bündchen isn’t too far away. She paid $11.5 million via a trust for a waterfront teardown at 1400 Biscaya Drive in Surfside in October, records show. The 6,600-square-foot house, built in 1981, sits on a 0.4-acre lot across the water from the Indian Creek mansion that Brady is building.

Indian Creek, a small, gated community, is also home to billionaire Carl Icahn, billionaire hedge funder Eddie Lampert, Taubco CEO Irwin Tauber, co-founder Bob Diener, billionaire IndiGo airline co-founder Rakesh Gangwal, as well as Ivanka Trump and Jared Kushner, who acquired a waterfront property on the island for $24 million two years ago. 

Read more