Floyd Mayweather Jr. has recently purchased a substantial multi-family portfolio in Upper Manhattan, totaling $402 million and comprising 62 properties with over 1,000 units. This acquisition highlights his ongoing interest in real estate, following previous high-profile purchases, including luxurious residences in New York, Miami, and Las Vegas. Mayweather proudly announced this achievement on Instagram, emphasizing his sole ownership of the properties and retail spaces. Such large acquisitions are increasingly rare due to high borrowing costs and rising interest rates, which have deterred many investors from the market.
Guess what? All the buildings belong to me, I don't have no partners... It's all about making power moves.
This kind of acquisition is a rarity nowadays - high borrowing costs have cowed investors in recent years, and affordable housing in particular can be undervalued.
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