Michael Jordan Mansion Cost $12.4 Million - Features Tiger Woods as Neighbor

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(PHOTO:REUTERS/Brian Snyder)Members of the 1992 United States Olympic "Dream Team" pose for a photograph after that team was inducted into the Basketball Hall of Fame during enshrinement ceremonies in Springfield, Massachusetts August 13, 2010. The players are: (front row L-R) John Stockton, Clyde Drexler, Chris Mullen; (middle row L-R) Scottie Pippen, Michael Jordan, Magic Johnson, Charles Barkley, Karl Malone; (back row L-R) Larry Bird, Patrick Ewing, David Robinson and Christian Laettner.

Michael Jordan's new mansion cost $12.4 million, according to new reports out this week. The extravagant mansions is located on Florida's Jupiter Island.

According to Jeff Realty, Jordan is close to moving into his new digs, the new mansion sits on a three acre plot of land, and includes 28,000 square feet across three separate buildings.

The mansion is also said to feature three other separate building structures, including a pool house, a guest house, as well as a guard house.

According to The Examiner, Jordan paid $4.8 million for the land, as well as $7.6 million extra for the construction of the mansion. That totals $12.4 million, however, does not include a lot of the extravagant furnishings that Jordan is likely to kit the whole place out with. It is believed that once everything is finally put in place to Jordan's liking the entire financial expense to Jordan in moving into the new mansion would be more like $20 million.

The mansion's location means that Jordan will also be a neighbor of golf star and good friend, Tiger Woods.

Jordan's place will include a total of 11 bedrooms, and feature an entire wing dedicated to athletics, which will have a basketball court, and a workout gym featuring some of the most advanced exercise equipment money can buy.

Jordan has also allegedly asked for a massive media room to be put in place in his new mansion, and for it to be "cigar friendly."

There is one of the most premium golf courses in the world nearby, which carries a $35,000 sign up fee, in addition to a $25,000 annual fee. It is believed that the basketball legend has already begun using the golf facilities.