Floyd Mayweather JR. has struck one of the largest deals on multifamily in Manhattan this year, with a massive $402 million portfolio acquisition.
The signed contract is for over 60 buildings and 1,000 units under the affordable housing category, The Real Deal reported, citing sources familiar with the situation. The properties are focused in Upper Manhattan, with Black Spruce Management founder Josh Gotlib reported as the seller.
The acquisition from the former boxer stands only second in New York City to a $672 million transfer of a Brooklyn property from Michael Stern to Silverstein Capital Partners. This was a distressed transaction.
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