Floyd Mayweather Jr. is making significant moves in the real estate sector.
As previously reported by AFROTECH™, the boxing world champion has invested $402 million in an affordable housing project in New York, which includes over 60 buildings with more than 1,000 units
“Growing up, I used to dream about owning just one home by myself, when you work hard you can achieve anything,” Mayweather told TMZ.
Mayweather’s investments in real estate also include ownership of nine skyscrapers in New York through a partnership with SL Green.
“‘You see that building right there? Yeah, we own that. You see this building? We own it.’ So we was walking and walking. Then he said, ‘You know, a boxer makes money when he’s boxing. A football player makes money when he’s playing football. A basketball player makes money when he’s playing basketball.’ He said, ‘But New York real estate, you make money when you sleep.’”
On Monday, Nov. 18, 2024, Mayweather also invested in a $10 billion office portfolio currently owned by 601W Companies. That same week, he purchased a stake in Villa Casa Casuarina in Miami Beach.
More recently, Mayweather launched the real estate firm Vada Properties and announced plans to invest $100 million in equity through the venture. This investment will go into a $3 billion luxury rental portfolio in partnership with Go Partners. The portfolio consists of collaborations with Meyer Orbach, chairman of Orbach Affordable Housing Solutions, and Josh Gotlib, co-founder of Black Spruce Management.
Mayweather has reportedly already transferred $20 million.
“Meyer and Josh are two of the smartest investors I have ever met,” Mayweather said in a statement, according to The Real Deal. “I am thrilled to be their partner on their trophy assets.”
Orbach added, “Whatever the opportunities are, we’re going to do them together.”
Gotlib commented, “Floyd shares our view that NYC offers a one-of-a-kind investment opportunity in both affordable and luxury housing.”
