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Phelps -- Now a Real Homie

8/21/2008 2:15 PM PDT BY TMZ STAFF

Michael Phelps has plunked down $1.69 million for a condo on the waterfront in Baltimore, Md. Here's the headline -- practicing in that pool ain't gonna win him any medals.

His new pad is 4,080 sq. ft. (check out the model in the photos). The complex has a rooftop terrace, a private screening room, a state of the art gym, a clubhouse with pool tables.

If you're wondering where the money came from, Phelps was projected to earn between three and five mil this year even before the gold.

49 COMMENTS

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31.

gurlsnguns    

Flo has an apparent issue with Phelps from current and previous comments. Blood, sweat and tears is what "earned" Phelps that condo! He choses to live in Baltimore because his family lives there. Concidering he is estimated to earn $100 million in the next 10 years, if he wanted a house in LA, NYC, or Vancouver he could certainly afford it. Clearly Phelps is very grounded and knows what's important in life. Phelps and all the Olympians have made me proud to live in the U.S.A.!

2232 days ago
32.

Jenny    

Ok, am I the only one confused? They refer to a model in the photos. I have been through them a gazillion times, and I don't see any models. Where is the model?

2232 days ago
33.

Joe Mama    

good for him

2232 days ago
34.

Rockmelon    

Such cruelty toward Baltimore! Actually, it's a great location. Close to NY and DC.

Anyway, I always thought that if I won the lottery I would do absolutely nothing until the dust had time to settle. I guess Phelps has had a lot of time to think about how he would spend his earnings...cause he sure moves quick!

And he deserves it. He's obviously worked very hard. Any parent would be extremely proud to have him as their son.

2232 days ago
35.

L.S    

Nice place good foe him.

2232 days ago
36.

Whadda-Do    

3 to 5 million BEFORE he won all the gold medals?>???? What did he do to justify earning this kind of coin BEFORE the medals? Who paid him this much money??? I don't get it.

2232 days ago
37.

Milana    

Im tired of hearing about him. tmz, can yall please lay off of him??

2232 days ago
38.

del    

Why is it only stars and athletes make this kind of money????
It disgusts me.
Posted at 2:52PM on Aug 21st 2008 by Kim

Actually, plenty of folks who got in to the tech sector at the right time left as mega millionaires, and some went on to lead lives helping the world. See John Wood's book "Leaving Microsoft to Change the World."

2231 days ago
39.

Trish    

He had many endorsements prior to this Olymipics. He bought this before Beijing, but no one noticed until now.

2231 days ago
40.

jp    

I live in and own a Mil + home in Baltimore City and you people who don't live in the city have NO idea WHAT you are talking about. The Wire is a FAKE show and there are plenty of people including my friends, Baltimore Orioles, Balitomore Ravens who live here. Michael Phelps is MORE than a welcome to this city us "MILS" are so glad he is here!!!!!!!!!!!! He is amazing! Learn before you stupid people speak!!!!!!!!!!!!!

2231 days ago
41.

Justin    

This is in Fells Point........stalk much TMZ???? People Stop HATIN on Baltimore theres plenty of crapholes you call a home in the good ol' U S of A. If Baltimore or any other town in MD wasn't desirable to live in then why is MARYLAND the RICHEST State in the country! Sucks to be you. BMORE PRIDE O's Stroh's and Natty Boh's Hun!

2231 days ago
42.

pam    

Good job...this is mostly the building next door...not his building.

2231 days ago
43.

DEtoMDgirl    

He ABSOLUTELY deserves whatever he plans to buy. I've heard the MD aquatic center and other spots too. He deserves it....and his MOM did a great job raising him. She beams with pride in every tv spot I see. Her daughters are gorgeous and accomplished as well. GO MOM!! After all the ridicule he endured as a child...this has to be soooooo sweet for him. MD is a beautiful state....the taxes suck

2231 days ago
44.

go away    

#24 For the idiot who said that fame has gone to his head, Michael is in no way jaded by fame. He knows that all this attention will die down and he is looking forward to that. He just bought the swim club that he began his swimming in Baltimore. He is going to help many kids who would not be able to afford swim classes realize their dreams, He volunters his time to talk to kids about the risk of drink and driving. He talks to kids who have ADHD so they can realize that they can overcome it with hard work and dedication. He knows who his friends are and is not going to forget where he came from, that is why he is moving back, his life is here.

2231 days ago
45.

Phanatic    

Flo, obviously you've never been to Baltimore or Maryland to say something so idiotic. Maryland is gorgeous and has miles and miles of waterfront communities on the Chesapeake Bay and all it's tributaries. And Baltimore does has some seedy parts, but most of it is very cool, especially the area his place is in. Any big city is like that though. Good for Phelps, he really does deserve it. He made watching the Olympics worth it this summer. He's made all us Marylanders super proud.

2231 days ago
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