Tiger to buy Jupiter Island compound

By Linda Rawls

12/29/05

Golf superstar Tiger Woods, the top-earning athlete in America, has agreed to pay "in the neighborhood" of $40 million for a 10-acre oceanfront compound on Jupiter Island, according to real estate agents familiar with the deal.

"It's a really high price and everyone's blown away," said Chappy Adams, president of Illustrated Properties in Palm Beach Gardens, which is not involved in the transaction.

More astounding than the price, though, is that Woods, who earned $89.4 million in 2004 in endorsements and tournament winnings, intends to tear down the 13-year-old main house in the 400 block of South Beach Road, real estate agents say.

"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 said. "I'd be surprised if he didn't tear it down."

Peters listed the main house, a guest house and the beach house for sale when Tire Kingdom founder Chuck Curcio put his estate on the market in 1997 for $16.9 million. Peters is not involved in the current sale.

"It wouldn't be unusual to tear it all down," Illustrated Properties' Adams said. "If you paid this much for the property, you'd want your own home. He's probably going to redevelop the whole piece."

Curcio sold the property in November 2003 for $16.7 million to Stephen Garofalo, founder of Metromedia Fiber Networks, a fiber optics company that filed for bankruptcy protection in 2002. It emerged a year later under the name AboveNet.

Garofalo paid $12.5 million for the 16,000-square-foot main house alone. He also bought land to the south of the Curcio estate, tore down the house on it and built a new guest house, Peters said.

The property, which runs from the Intracoastal Waterway to the Atlantic Ocean, now includes four houses — the main house, two guest houses and a beach house — as well as two boat docks.

One of the deep-water docks might be big enough for Woods' 155-foot-yacht, Privacy, which he keeps in North Palm Beach, sources familiar with the property say.

Garofalo had listed only the guest house on the Intracoastal Waterway for sale, Adams said, with an asking price of $18 million — or $19.5 million furnished. Woods, however, made a winning bid for the entire compound, he said. Multiple Listing Service records show the property went under contract in mid-December.

Woods, who turns 30 on Friday, has been looking for a home on the water all year. Woods and his wife, the former Elin Nordegren, have been especially interested in northern Palm Beach County and southern Martin County, because golfer Jesper Parnevik and his wife, Mia, live in Jupiter's Indian Hills.

Elin Woods was the Parneviks' nanny when she met her future husband in 2003. They married last year.

Tiger-sightings reported

Woods' house-hunting has caused a furor for some time, with Tiger sightings sparking excitement wherever he went. Last year he reportedly looked at the 18,000-square-foot Palazzo Serena in North Palm Beach, on the market for $33 million. His future bride also toured a 2-acre property in Seminole Landing last year.

Recently, Woods looked at another home on Jupiter Island, according to the owner of the house next door.

"I also saw him on the Jupiter Island golf course a few months back," said the homeowner, who asked not to be identified.

As incredible as it sounds, Woods is welcome on the golf course, but it's doubtful the three-time winner of the Masters Tournament would be invited to join the Jupiter Island Club, a resident of the publicity-shunning community said.

"No way — they don't want anybody famous," the resident said, asking to remain anonymous. "They are as low-key and unassuming as it gets. No stars, fame, publicity or press."

World-famous singer Celine Dion, who bought a $12.5 million beachfront home this year — not far from the property Woods has under contract — also is likely to meet resistance, though she's an avid golfer.

"I would say she's not going to be a member of the club," one local observer said on condition of anonymity. "You have to be sponsored, and they've never been big on movie stars and such."

In stark contrast to the reclusive Jupiter Island Club is Windermere's Isleworth Country Club, near Orlando. Woods has owned a home there since his PGA Tour rookie year in 1996.

The club not only welcomes his membership, it modified the golf course for him, lengthening it two years ago and making it more difficult, all to appease the star member.

Whether Woods will sell his house in Isleworth is unclear. His agent did not return a phone call Wednesday. This year Woods also bought land in a golf-course development in Jackson, Wyo.

Playing partners abound

He can certainly afford to own multiple estates. The No. 1 money-winner on the PGA Tour this year, Woods earned a mere $10.6 million on golf courses. But his squeaky-clean image pulled in $83 million last year from endorsements for such companies as Nike — which paid him $25 million — and General Motors.

If the Jupiter Island deal closes, Woods certainly won't lack partners for a foursome. Greg Norman owns a home on Jupiter Island, where then-President Clinton injured his ankle in a fall.

Pro golfer Nick Price also calls 2.7-square-mile Jupiter Island home. Swedish professional golfer Fredrik Jacobson owns a home at Jupiter's Medalist Club, Norman's home course.

"I would like to know how all the professional golfers arrived," said yet another Jupiter Island resident who didn't want his name used. "Did The Shark (Norman's nickname) yell out at the Open, 'Hey guys, free beer at my club, and you are all allowed to join?' "

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