by Cedric “BIG CED” Thornton
October 17, 2024
Floyd Mayweather is investing in a 1,000-unit affordable housing portfolio in more than 60 buildings in Manhattan
Undefeated, retired boxer Floyd Mayweather has reportedly inked a deal with Black Spruce Management.
According to The Real Deal, Mayweather is investing $402 million in a 1,000-unit affordable housing portfolio in more than 60 buildings in Manhattan, the heart of New York City. The deal was reportedly made with Josh Gotlib of Black Spruce Management. No details or comments have been released by Black Spruce or Mayweather at this time. However, the media company said the multifamily real estate deal is focused on Upper Manhattan and would be one of the city's largest deals this year.
Part of the portfolio closed on October 17, with the remainder of the transaction expected to close in the fourth quarter or early first quarter of 2025.
In 2021, Black Spruce worked to recapitalize an 1,800-unit Article XI deal. They planned to do this by selling a stake in the 97 buildings, also mostly located in Upper Manhattan, made up of six portfolios. The company planned to sell a 49.9 percent stake, which would be worth $700 million.
Mayweather's money is flowing like water, as it was recently reported that the former pugilist bought four luxury watches for a million dollars. He wasn't to be outdone and when he learned that luxury watch designer Avi & Co was introducing a new collection of watches, he was ready to buy one. But after looking at the four timepieces included in the collection, he decided to simply buy the entire set.
Since each one cost $250,000, it cost him $1 million. This made him the first to own all four watches in the Avi & Co Hue collection.
“It's hard to choose a watch; They are all exceptional timepieces. I am proud of Avi and support him. He is my friend and if I want to spend time with him, I can do that. You can’t do that with the owner of a Rolex or AP (Audemars Piguet).”
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