Property Records Deal a Blow to Ex-Boxer Mayweather’s Claim of Manhattan Portfolio

Former boxer Floyd Mayweather Jr. isn’t exactly living up to his nickname “Money” after boasting about his investment in 62 apartment buildings in Manhattan.

In October, Mayweather announced that he and Josh Gotlib’s Black Spruce Management had closed a $402 million deal for over 1,000 apartment units in Upper Manhattan, although at the time Mayweather asserted that his company Vada Properties was the lone investor.

“All the buildings belong to me, I don’t have no partners,” Mayweather, who has been rebranding himself as a businessman after a legendary boxing career, said on Instagram at the time.

But undefeated in the ring does not equal undefeated in real estate.

The transactions seem to have never taken place, with no transactions reflected in property records and no other parties made aware of the sale, according to a report from Business Insider.

Instead, Business Insider reported that Mayweather has bought only “a small minority ownership in the portfolio.” The deal does include an option for Mayweather to increase his stake or buy the buildings outright, but it’s not clear if Mayweather will take that option.

And the NYC Housing Partnership told Business Insider that it would have been a party to the transaction of the Upper Manhattan properties, but that it wasn’t aware of any deals happening on that scale.

“The Housing Partnership has not been advised of any sale, pending sale, or change in ownership,” a spokesperson for NYC Housing Partnership told Business Insider. “Generally, the partnership would be advised of the transfer and would be party to the transfer. That has not occurred.”

The NYC Housing Partnership did not immediately respond to a request for comment.

Mayweather has boasted of owning properties across the country and being an investor in SL Green Realty’s One Vanderbilt, but the size of his investment in One Vanderbilt is unclear.

Mark Hallum can be reached at mhallum@commercialobserver.com.