Tiger Woods Buys New York Pad & Takes Out $54 Million Mortgage

Filed under: Celebrity News, Housing, Mortgage

Tiger Woods has had quite a week when it comes to real estate. The richest athlete in the world seems to have celebrated his divorce by buying a bachelor pad apartment in New York City a week after his divorce was finalized. Woods' new apartment is located in the downtown area of Manhattan, an area known for hip clubs populated with "the beautiful people." It is certain that he will fit right in, as Tiger has become famous for loving the hard-partying lifestyle -- and pretty women even more. Plenty of both in the Soho area near his alleged Tribeca home.

Purchasing a posh apartment in Manhattan is a business transaction requiring millions of dollars, and Tiger Woods has the cash on hand to acquire such digs at will. Or does he?

Woods also took out a mortgage recently on a home that he is building in Florida -- a mortgage to the tune of $54.5 million. TMZ reports:

Tiger Woods recently took out a $54.5 million mortgage for the mega-mansion he's building on Florida's exclusive Jupiter Island.

TMZ has obtained legal documents filed in Martin County on August 27 -- four days after Tiger finalized his divorce from Elin Nordegren -- in which he lists himself as a "single man" ... possibly for the first time since his marriage ended.

Tiger also agrees to pay back the gargantuan loan by January 15, 2016. So, it seems there's one group of people counting on Tiger to make a comeback -- his lenders.

According to the docs, Tiger's property spans across three parcels of land ... and as we've previously reported, the estate will include a tennis court, oxygen therapy room, multiple pools and a state-of-the-art fitness center.


In plain language, a mortgage is a loan. It seems strange that Woods, as the first athlete to be worth $1 billion with an estimated $600 million in cash on hand, would need to take out a mortgage. Could it be that Tiger Woods is not as liquid in terms of his cash flow as we think? Or that Elin won a lot more than the $100 million in her divorce settlement that is being speculated? It is hard to imagine why Tiger Woods would put his dream home in jeopardy by taking out a loan against the Florida property -- unless he is strapped for cash. Or just plain dumb with his funds.

Let's just hope that losing Elin doesn't lead to Tiger Woods losing all his sense. It does seem that having Elin in his life provided Tiger Woods with some sense of grounding, even though he used that emotional security to make many risky romantic moves. With Elin out of his life, Tiger is now taking big risks with his money. As the life of Michael Jackson demonstrates, you can be worth a lot of money without having a lot of cash -- and you can have a lot of cash and still spend it all. No person on this earth has an unlimited amount of funds, and even billionaires need to budget.

From buying a Manhattan apartment on a whim, to taking out a $54 million loan within the same week, it appears that Woods may be making money moves that could lead to a bad end.

Tiger Woods should take real estate buying advice from Tyler Perry and purchase his mega mansions on the cheap.

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