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Floyd Mayweather has made a major move in real estate, investing $402 million to acquire over 60 buildings with more than 1,000 units in New York, NY, TMZ reports.
“Growing up, I used to dream about owning just one home by myself, when you work hard you can achieve anything,” Mayweather shared with TMZ.
According toThe Real Deal, this investment is aimed at developing affordable housing for families in need.
Other Real Estate Deals
Mayweather’s real estate portfolio in New York doesn’t end there. As previously reported by AFROTECH™, the boxer also owns nine skyscrapers in the area through a partnership with SL Green.
“SL Green is a company I’ve worked with for many years, and Andrew Mathias—great business guy,” Mayweather said on the “Earn Your Leisure” podcast, referring to Mathias, president of SL Green Realty Corp.
On a walk through the city with the businessman, Mayweather recalled him saying, “‘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.’”
Looking ahead, Mayweather also plans to be involved in a new casino project that could bring jobs and entertainment to the state. Caesars, SL Green, and Jay-Z’s Roc Nation have partnered to bid on building Caesars Palace Times Square.
“New York is a beacon, the epicenter of culture. We have the opportunity to create a destination at the heart of Times Square, the true crossroads of the world,” Jay-Z said in a press statement. “My partnership with SL Green and Caesars, this coalition, has all the promise and commitment to economic opportunity, growth, and enrichment for the community and everyone who visits the Empire State.”
The venture is awaiting approval.
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