Is Floyd Mayweather Jr.’s $402M NYC Property Deal For Real?

According to Business Insider, New York City property records show that none of the buildings Mayweather claims to have purchased have changed ownership.

New reports reveal a lack of evidence supporting Floyd Mayweather Jr.’s claims of investing in a $402 million Manhattan apartment portfolio.

Just over a month after Mayweather announced his biggest deal to date—the purchase of a sprawling portfolio of 62 rental apartment buildings in upper Manhattan—Business Insider is reporting that a deal may not have been made.

In February, Mayweather announced that his real estate investment firm, Vada Properties, paid $402 million for the properties.

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However, New York City property records, which are typically updated within days of a sale, show that none of the buildings Mayweather claims to have purchased have changed ownership. A deal to sell the properties outright to Mayweather does not appear to be imminent.

The NYC Housing Partnership, a nonprofit group that partners in the majority of the properties and works to maintain the affordability of the apartments, said through a spokesman that it has not been notified of any pending sale.

When asked about the acquisition, Ayal Frist, the CEO of Vada Properties, Mayweather’s property firm, brought a man into the phone call who introduced himself as James McNair, an executive involved in Mayweather’s business ventures. However, the man’s voice sounded notably different from previous recordings of McNair, Business Insider noted.

The individual insisted that Mayweather had acquired the portfolio but refused to go on record to discuss any details of the transaction. He explained that Mayweather, having grown up in affordable housing, was particularly drawn to the properties because they included rent-regulated apartments.

“He felt that it’s so cool because ‘I give back to the community and I make money,'” the person said. “And once that clicked in his head, he is like, ‘I want to buy it all.'”

Real estate has occupied a lot of Mayweather’s attention in recent years. However, some industry experts are questioning whether the he is exaggerating the extent of his real estate portfolio.