New England Patriots quarterback Tom Brady, 31, just bought an $11 million plot of land in Brentwood, California down the road from Governor Arnold Schwarzenegger’s house. He’s having a mansion built there, and word is that he plans to live in the probably palatial home with his longterm love, Brazilian supermodel Gisele Bündchen, 28. Bündchen is the highest paid model in the world and earned $35 million so far this year so maybe she’s chipping in. Brady could easily foot the entire bill, though - he signed a $60 million six year contract with The Patriots in 2005. It may sound like a boatload of cash, but Brady could easily have held out for more and was praised for asking for just $10 million a year, when competitors like Peyton Manning have $14.2 million a year contracts. He has plenty of high paid endorsement deals with companies like Nike, Sirius, Visa and Smartwater to fall back on. Brady is investing in real estate when the market is down and he’ll soon be living larger than usual:

Sources close to the supermodel and her “Errand Boy” tell us Tom just closed a deal to buy a plot of dirt in Brentwood — on Arnold Schwarzenegger’s street — for more than $11 million. We repeat — he bought dirt for eleven mil!

TMZ is in possession of documents which show that Tom took out a mortgage of $8.225 mil that he will pay back in 5 years. The property — approximately 3 acres — was purchased under the name TGBE. We’re wondering if the G stands for you know who…

A source connected to Brady tells us he bought the west coast property to be closer to his kid. A source connected to his baby mama Bridget Moynahan says that excuse is total B.S.

BTW — on top of the $11 mil he dropped on the land, Tom will also have to drop some serious coin on the structure he plans on living in. Meanwhile, Tony Romo spent $699,000 on a place in Dallas county.

[From TMZ]

Tony Romo’s $700k house sounds like an absolute bargain compared to an $11 million piece of property. Hopefully it will only appreciate in value - not for Brady’s sake, but for the market and all the people with one home who are struggling to pay their mortgages.

There have been rumors for some time that Gisele and Brady were engaged, but we haven’t heard much of them lately. Maybe that means that they’ve settled into domestic bliss. With that kind of money they can afford plenty of luxuries to make their time at home as comfortable as possible while do whatever work is required to maintain their blindingly attractive physiques.

Tom Brady is shown getting mail near Gisele’s West Village apartment on 3/20/08. Credit: A Miller/WENN. He is also shown with Gisele at the Costume Institute Gala on 5/5/08. Credit: Wild1 / PR Photos.