Floyd Mayweather is reportedly in the process of purchasing a substantial 1,000-unit affordable housing portfolio, consisting of over 60 buildings, for $402 million from the Black Spruce portfolio, as reported by The Real Deal.
This significant multifamily property acquisition, primarily located in Upper Manhattan, marks one of the largest real estate transactions in New York City this year. Sources indicate that part of the deal was finalized on Wednesday, with the remainder expected to close by late 2024 or early 2025.
"This purchase holds deep emotional significance for me and my family," Mayweather stated, highlighting the personal connection behind his investment in affordable housing