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Michael Phelps has already started spending his projected endorsement dollars, plunking down $1.69 million for a waterfront condo in his Baltimore, MD hometown.

23-year-old Phelps, the record holder for the most gold medals won in a single Olympics, has won 16 Olympic medals: six gold and two bronze at the 2004 Athens Games, and eight gold in Beijing, surpassing the previous record held by Mark Spitz, who won seven at the 1972 Olympic Games.

The 4080 square foot condo overlooking Baltimore’s revitalized Harborfront, features a private screening room, rooftop terrace, state-of-the-art gym, a clubhouse with pool tables and a swimming pool.

View photos of Michael Phelps’ new condo below.