Retired boxing champion turned real estate investor Floyd Mayweather Jr. sold his waterfront Miami Beach mansion for $22 million.
Mayweather, via his Fojoso LLC, sold the 10,853-square-foot house at 288 South Coconut Lane to a company managed by Morris Betesh, according to records. Betesh is a former senior managing director at Meridian Capital Group who recently launched a new venture. The sale appears to have been arranged off-market.
The buying entity, 288 SC LLC, assumed Mayweather’s $13 million mortgage. Hankey Capital is the lender. The next loan payment due in December is $98,736, records show.
Mayweather, who has been investing in commercial real estate, likely made a profit on the Miami Beach home. He paid $18 million for the nine-bedroom, 10.5-bathroom estate in 2021, records show. The Palm Island home, on a third of an acre, includes an indoor movie theater, gym, dock, pool and space for about 10 cars. It was built in 2011.
Earlier this year, Chilean developer and casino mogul Claudio Fischer sold his waterfront spec mansion at 40 Palm Avenue for $40 million, setting a record for home sales on Palm and Hibiscus islands.
Mayweather previously owned a waterfront home on Pine Tree Drive in Miami Beach, which he sold in 2020 at a loss for $6.3 million.
Mayweather has reportedly earned $1.1 billion through his boxing career and business ventures, including about $300 million from a fight in 2015.
He’s been ramping up his real estate investments.
Mayweather recently invested in 601W Companies’ $10 billion portfolio of 18 office buildings spanning 10 million square feet, including properties in New York, Chicago and Jersey City, marking his “most significant” investment to date, The Real Deal previously reported.
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He also previously invested more than $100 million with office landlord SL Green.
In October, he went into contract on a $402 million apartment portfolio in New York. Black Spruce Management is the seller of more than 60 rental buildings.