Floyd Mayweather Jr.’s Real Estate Ventures: What We Know

Former professional boxer Floyd Mayweather Jr. has recently made headlines not just for his boxing legacy, but also for his purported investments in real estate, specifically announcing a significant deal involving 62 apartment buildings in Manhattan.

The Announcement

In a public statement made in October, Mayweather revealed that his company, Vada Properties, had finalized a substantial deal worth $402 million for over 1,000 units in Upper Manhattan. During this announcement, he maintained that he was the sole investor in this transaction.

“All the buildings belong to me, I don’t have no partners,” Mayweather declared on Instagram at the time.

Investigating the Transaction

However, subsequent investigations into the transaction have raised eyebrows. Reports from Business Insider indicate that no official records of a sale exist, leading to suspicions regarding the validity of Mayweather’s claims.

In fact, the investigations revealed that rather than owning the properties outright, Mayweather holds only a “small minority ownership” in the portfolio. His current arrangement includes an option for increasing his stake or potentially acquiring the buildings completely, though clarity on whether he intends to exercise this option remains elusive.

The Role of NYC Housing Partnership

Moreover, the NYC Housing Partnership has stated that, traditionally, it would be informed about transactions of this magnitude but was not aware of any sales or changes in property ownership related to the developments Mayweather mentioned.

“The Housing Partnership has not been advised of any sale, pending sale, or change in ownership,” a spokesperson commented, emphasizing the absence of notification about the transfer.

Beyond Upper Manhattan

Mayweather’s assertions of property ownership extend beyond the Manhattan apartments. He has also claimed investments in prominent developments such as SL Green Realty’s One Vanderbilt. However, the specifics regarding the extent of his investment in this high-profile project remain unclear.

Conclusion

As details about Mayweather’s investment in Manhattan’s real estate unfold, it serves as a reminder that the world of business is not as straightforward as one might expect. While his financial ventures are certainly ambitious, the reality of his investments appears more complicated than initially presented.

For further developments on this story, follow updates from sources such as Business Insider and other reputable financial news outlets.