Golf News, Source, PGA.com/news- Tiger Woods is buying a 10-acre oceanfront compound on Jupiter Island for approximately $40 million, according to published reports. That would be a record-high price for a property on the island, which Forbes calls the "most expensive ZIP code" in America. "It's a really high price and everyone's blown away," Chappy Adams, president of Illustrated Properties in Palm Beach Gardens, which is not involved in the transaction, told The Palm Beach Post.
The property extends from the Intracoastal to the Atlantic, as do many of the compounds in the exclusive enclave just north of Palm Beach, and includes a main house, two guest houses and a beach house. Real estate agents indicated to the newspaper that Woods is considering tearing down the 13-year-old main house.
"The main house is in very good condition, but I'd think that someone who paid that much would want to put their own stamp on it," Jupiter area real estate agent Dolly Peters told the newspaper. "I'd be surprised if he didn't tear it down."
Tire Kingdom founder Chuck Curcio sold the estate in 2003 for $16.7 million to Stephen Garofalo, founder of Metromedia Fiber Networks, Peters said. Garofalo paid $12.5 million for the 16,000-square-foot main house alone, and also bought land to the south, tore down the house on it and built a new guest house, she said.
Garofalo had listed only the guest house for sale at a price of $18 million, the newspaper said, but Woods convinced him to sell the entire compound. Multiple Listing Service records show the property went under contract in mid-December.
Woods has been looking for a waterfront home for a year, and he and his wife Elin were especially interested in the southern Martin County–northern Palm Beach County area because Jesper Parnevik and his family live in the Indian Hills area of nearby Jupiter. Elin Woods was the Parneviks' nanny when she met Woods in 2003.
Woods will become the third high-profile golfer to settle on Jupiter Island, as both Nick Price and Greg Norman own compounds there. It was at Norman's house that then-President Clinton famously injured his ankle in a fall.
Several other pro golfers also own home in the Jupiter-West Palm Beach area, including Dana Quigley, Mark Calcavecchia, Bruce Fleisher, Ray Floyd, Hank Kuehne, Ken Green and Fredrik Jacobson.
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