Floyd Mayweather Purchases Over 60 Affordable Housing Buildings in NYC For $402 Million

Floyd Mayweather

Floyd Mayweather, renowned as one of the greatest boxers in history, is making waves in the real estate world by finalizing a $402 million deal to acquire over 60 buildings in New York City, totaling more than 1,000 units. This acquisition marks a significant milestone in Mayweather's ongoing venture into real estate investment. Reflecting on this achievement, Mayweather told TMZ, "Growing up I used to dream about owning just one home by myself, when you work hard you can achieve anything." His words highlight the personal significance of this accomplishment for a man who has built a vast fortune after overcoming severe hardships.

The properties, sold by Black Spruce Management, benefit from Article XI tax exemptions, which are offered to developments that support affordable housing initiatives. According to Hollywood Unlocked, this deal was not Mayweather’s first experience with real estate in New York City. He has previously invested in skyscrapers and was notably involved in SL Green’s proposal to bring a casino to Times Square, as reported by The Real Deal.

This latest deal, however, carries added emotional weight for Mayweather, who has frequently shared stories of growing up in poverty. He spent his childhood in a small, overcrowded apartment in New Jersey, an experience that shaped his desire to provide affordable housing for others. "People see my success today but have no idea of the hardships I faced growing up with almost nothing," Mayweather told Mercury News in a 2007 interview, emphasizing his deep connection to the mission of affordable housing.

Mayweather’s real estate journey is part of a broader strategy to diversify his post-retirement portfolio, which includes other ventures such as exhibition boxing matches. In a recent Instagram post, he remarked, "Retirement isn’t about slowing down; it’s about living on your own terms." He remains focused on creating new financial opportunities, noting that while figures like Jeff Bezos and Warren Buffett are celebrated for their ongoing success, he often faces criticism for continuing to build wealth as a Black man. "Too many are busy watching my pockets while I’m still building my legacy," he added.

Mayweather's real estate investments span beyond New York City. He is also known for purchasing multi-million-dollar properties across the U.S., including luxury homes in Miami, Los Angeles, and Las Vegas. His $25.5 million Beverly Hills mansion and a $10 million Vegas property showcase his penchant for high-value investments, but his recent focus on affordable housing reflects a deeper, more personal mission. His journey from poverty to success underscores his philosophy that wealth-building should include giving back to communities that mirror his own upbringing.

This new acquisition represents both a business success and a deeply personal victory for Mayweather, who continues to prove that his vision extends far beyond the boxing ring.

Previous Post Next Post