Hulk Hogan has dropped $1.6 million on the house next door to his Florida home, just months after winning a staggering payout from his lawsuit against media company Gawker.

The former wrestler, real name Terry Gene Bolle, bought the four-bedroom, two-bathroom beachfront bungalow in August, the DailyMail.com can exclusively reveal.

The 2,000 square foot home features a beachfront deck among the sand dunes and has panoramic beach views, according to the real estate listing.

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The 2,000 square foot home in Clearwater, Florida features a beachfront deck among the sand dunes and has panoramic beach views

The new property is situated directly beside the 5,000 square foot, $3 million mansion which Hogan and his wife Jennifer bought back in 2014

Hogan, pictured with his wife Jennifer in April, was awarded a total of $140 million in damages from his lawsuit against Gawker, which subsequently filed for bankruptcy

It is situated directly beside the 5,000 square foot, $3 million mansion he and his wife Jennifer bought back in 2014.

That home, built in 2009, has five bedrooms and seven bathrooms. It features an elevator, a fireplace, two spas and a pool.

Hogan certainly has money to spend after winning the Gawker lawsuit. He sued after the gossip site in 2012 published one minute, 41 second-long video of Hogan having sex with Heather Cole from back in 2007.

Cole was married to Hogan's best friend, radio host Bubba The Love Sponge, at the time.

In March a jury awarded Hogan $55 million in compensatory damages and $60 million for emotional distress.

He was later awarded an additional $25 million in punitive damages for the video's publication by the New York-based company.

Hogan had originally sought $100 million.

The judgement resulted in the website filing for bankruptcy along with its founder, Briton Nick Denton. The jury held Denton personally responsible for $10 million of the judgement. Both cases are still pending.

Univision, which partly owns satirical news site The Onion, purchased Gawker Media’s assets for $135 million as part of the bankruptcy.

The house, circled, cost Hogan $1.6 million

Hogan bought his present home after selling the enormous residence he had shared with his ex-wife Linda, pictured, for a hefty loss

The new owner has shut down Gawker but will continue to run its other websites, which include popular women's website Jezebel and sports site Deadspin.

Hogan bought his present home after selling the enormous residence he had shared with his ex-wife Linda - for a hefty loss.

That home, which featured on the family’s VH1 reality show Hogan Knows Best, included a wet bar, gym, hot tub, tanning salon and even a pool with waterfalls.

Hogan originally listed the 17,000 square foot property for $25 million back in 2006. He eventually sold it for just $6.2 million in 2012.