Floyd Mayweather Investing $402M With Black Spruce Management

Floyd Mayweather is investing into a 1,000-unit affordable housing portfolio with more than 60 buildings in Manhattan.

Undefeated retired boxer Floyd Mayweather has reportedly struck a deal to go into business with Black Spruce Management.

According to The Real Deal, Mayweather is investing $402 million into a 1,000-unit affordable housing portfolio with more than 60 buildings in Manhattan, the heart of New York City. The deal was reportedly made with Josh Gotlib of Black Spruce Management. Black Spruce or Mayweather released no details or comments at this time. However, the media outlet stated that the multifamily deal for properties is concentrated in Upper Manhattan and would be one of the city’s biggest deals this year.

A portion of the portfolio was closed on Oct. 17, with the remainder of the deal expected to close in the fourth quarter or early first quarter of 2025.

In 2021, Black Spruce was working to recapitalize a 1,800-unit Article XI deal. They planned to make it happen by selling a stake in the 97 buildings, which are also mostly in Upper Manhattan and comprise six portfolios. The firm planned to sell a 49.9% stake that would value the deal at $700 million.

Money flows like water with Mayweather, as it was recently reported that the former pugilist purchased four luxury timepieces for one million dollars. Not one to be outdone, when he found out that luxury watch designer Avi & Co was debuting a new collection of watches, he was primed to buy one. Yet, after viewing the four timepieces in the collection, he decided to just purchase the whole set.

Each one cost $250,000, which set him back $1 million. By doing so, he became the first person to own all four watches in the Avi & Co Hue collection.

“It’s hard to choose one watch; they are all exceptional timepieces. I am proud of Avi and support him. He is my friend, and if I want to hang out with him, I can. You can’t do that with the owner of Rolex or AP (Audemars Piguet).”