Floyd Mayweather enters NYC real estate with $402 million affordable housing deal

Timilehin Adejumobi -
Key Points
  • Floyd Mayweather invests $402 million in a 1,000-unit affordable housing portfolio in New York, marking a shift from entertainment to impactful ventures.
  • Partnering with Black Spruce Management, the portfolio spans 60+ buildings, with part of the deal set to close by Oct. 17.
  • Mayweather's latest investment aligns with growing demand for affordable housing in NYC, strengthening his business empire beyond sports.

Floyd Mayweather Jr., the undefeated boxing legend-turned-business mogul, is entering the real estate sector with a $402-million investment in affordable housing. Partnering with Black Spruce Management, Mayweather is backing a 1,000-unit portfolio in New York City, marking a significant step beyond sports and entertainment into socially impactful ventures.

The deal, led by Black Spruce's Josh Gotlib, spans more than 60 buildings, primarily located in Upper Manhattan. Part of the portfolio is scheduled to close by Oct. 17, with the remaining transactions expected to wrap up by year-end or early 2025.

Although Mayweather and Black Spruce have not issued public comments, the transaction is anticipated to be one of the largest multifamily housing deals in New York this year.

Black Spruce expands focus on affordable housing

Black Spruce is familiar with high-profile real estate transactions in the city, having played a leading role in the 2021 recapitalization of a 1,800-unit Article XI housing project in Upper Manhattan.

That $700 million deal involved the sale of a 49.9-percent stake in 97 buildings. With Mayweather’s involvement, the firm continues to strengthen its focus on affordable housing, a sector in growing demand throughout New York City.

New chapter for Floyd Mayweather’s business empire

Floyd Mayweather, who retired from boxing in 2017 after defeating UFC star Conor McGregor, has built a lucrative career outside the ring. Forbes estimated his net worth at $285 million in 2018, thanks to savvy business decisions and his ability to monetize his brand.

Though known for his extravagant lifestyle — recently spending $1 million on luxury watches — Mayweather's latest move reflects a shift toward socially conscious investments. Beyond real estate, his business empire includes Mayweather Promotions and TMT (The Money Team), a successful apparel brand.

This investment positions Mayweather as a key player in the real estate market and strengthens his growing reputation as a business leader. As New York’s need for affordable housing rises, Mayweather’s $402-million stake could solidify his legacy beyond boxing, making him a prominent figure in the city's evolving real estate landscape.