News | advice | area guide

Floyd Mayweather Flaunts His Prodigious Wealth in the Real Estate Market

Revered as one of the greatest boxers—if not the greatest—of all time, Floyd Mayweather Jr. is a perfect 49-0 over his legendary ring career.

And outside the ring, especially when it comes to the fortune and real estate portfolio that he flaunts, “Money” Mayweather has yet to take a loss. He’s heavily favored to dispense with mixed martial artist Conor McGregor when the two finally meet in the ring, so it’ll be interesting to see what the mood is like back at Mayweather’s mansion if McGregor can pull off a stunning upset.

Bigger than ‘The Big Boy’?

It came as no surprise when the three-time leader of the Forbes list of highest-paid athletes announced in a recent video that he had purchased a new Las Vegas mansion ahead of his mega-fight with the UFC champ.

The video went up on YouTube a couple of weeks ago, and the boxer is cagey about the details of his new purchase. Little is known about the newly purchased mansion, but during the interview with FightHype, the undefeated champion told the cameraman his newest acquisition could unseat his current Vegas abode, known as “Big Boy Mansion.”

If that’s indeed the case, the new place must be one hell of a piece of real estate—because Mayweather’s original “Big Boy Mansion” is almost as legendary as the boxer himself.

The original ‘Big Boy’

Located on over 22,000 square feet of land, “Big Boy” has been featured on numerous news outlets and even has its own Instagram account.

It’s so immense, FightHype dedicated two YouTube episodes to breaking down all its luxurious glory.

The mansion features five bedrooms and seven bathrooms and sits on a golf course. The ceilings measure over 24 feet high, with the walls lined in red silk or glass.

According to the video, Mayweather had extensive input in designing the mansion. With all the luxe features throughout the estate—marble floors, Fendi fixtures, a garage with more than $15 million worth of automobiles, and random stacks of money that pop up like extra lamps—the champ’s style is definitely reflected throughout.

The mansion also features a 12-person shower, a two-screen home movie theater, and a 600-square foot walk-in closet lined with cedar.

And of course, there’s the ever-crucial location. Zar Zanganeh, owner/broker of Luxe Estates and Lifestyles in Las Vegas, was effusive in his praise for the exclusive enclave known as the Estates at Southern Highlands, a neighborhood he knows well. He told us Mayweather’s Big Boy Mansion is set in a quiet cul-de-sac within the posh Southern Highlands development.

If you’d like to get a glimpse of the boxer’s high life before he moves to his even bigger digs, Zanganeh is representing a listing right across the road from the Big Boy Mansion. The agent said the16,789-square foot mansion he’s selling, listed for $8.7 million, “has a front door that faces Mayweather’s front door.”

Another adventure in Vegas

In Sin City, there’s even more to Mayweather’s property portfolio. Records indicate Mayweather is still listed as the owner of a Vegas mansion he purchased for a little over $3 million way back in 2005. In a guard-gated community known as Mountain Trails, the home is modest by Mayweather’s standards, with “only” 7,284 square feet of living space and six bedrooms.

If you’re curious about his taste a decade ago, the boxer offered a tour of the home on “MTV Cribs” back in 2007. Along the tour of the gorgeous grounds, he stopped by the pantry and professed his love for instant ramen noodles. His pre-fight nutritional regimen has come a long way over the past decade.

There aren’t a lot of opportunities for fans of instant noodles nearby—this is a five-star neighborhood. For a sense of what prices are like in the neighborhood right now, there’s a house down the street currently on the market for $1.95 million and another manse in the same gated community listed for $2.2 million.

In addition to the mansion he bought in 2005 and the two “Big Boy” mansions described above, Mayweather is listed as the owner of at least four other “modest” Vegas properties tucked away in the city’s southwest area, away from the bright lights of the Strip.

Mayweather’s continued investment in Vegas looks like a savvy move. Luxury real estate agent Gavin Ernstone with Simply Vegas says the high end of Las Vegas housing is “very strong.” He added the desert housing market is trending better than it was in 2016 and “the town continues to grow, not only in terms of geography, but also in terms of stature.”

Mayweather’s other acquisitions

In 2015, Mayweather spent nearly $2 million at the Palms Place in Vegas on a penthouse unit that overlooks the strip from the 55th floor. The 3,100-square-foot condominium has custom lighting, hardwood flooring, and wood wall treatments.

Features of Mayweather’s two-bedroom, 2.5-bathroom Palms condo include a glass wall for unobstructed views of downtown Vegas and the valley, a fireplace, large soaking tub, and a game/billiards room.

If you’d like to join the entourage and party at the Palms, there are currently 23 units at Palms Place on the market, ranging in price from $229,000 to $549,000.

Agent Harry Lee with Go Global Realty has worked with several buyers and sellers at Palms Place. He told us values of the units in the building are on the rise. A studio unit in the building that might have sold for $150,000 a couple of years ago would now be priced at $220,000, according to Lee. He added he’s seeing “investors from San Francisco, Los Angeles, and international buyers purchase vacation homes in the building.”

Owners can then rent out their unit on VRBO or Airbnb and work toward paying down a mortgage. And if every weekend was a marquee fight weekend, Palms owners could pay off those mortgages in a hurry. Lee said units at Palms Place that would normally rent for $150 per weekend night are booked up at $500 per night this weekend.

Mayweather also keeps a place in SoCal at the Ritz-Carlton in Los Angeles, where he’s a hit with the valet staff. According to an interview with exotic car dealer Obi Okeke in Automotive News, “He’s got a residence at the Ritz-Carlton in downtown L.A. If he’s there for like a week, when he leaves, he will gather every single valet driver, 10 or 11 of them. He will distribute anywhere from $8,000 to $10,000 to each of the valet guys.”

The boxer also still owns a penthouse place at the St. Tropez Condominiums in Miami Beach. In a rare setback, Mayweather put the luxe unit on the market for $2.6 million in July 2014, but never found a buyer. The four-bedroom penthouse had a series of price cuts that brought the ask down to $2 million before eventually being pulled from the market in 2015.

Speaking of Florida, Mayweather made a sizable splash in the Sunshine State about a year ago.

It’s reported that the man with the unblemished record spent $7.7 million—in cash—on a monster Miami mansion in June 2016.

Happily declaring, “I pull up to my backyard like it’s the front yard” in a house tour video, Mayweather spared no expense in decking out the 5,200-square foot property sitting on the Intracoastal Waterway.

The five-bedroom, five-bathroom mansion features vaulted interiors and ipe wood siding, a glass-and-steel floating staircase, and formal living and dining rooms. White lacquer countertops and cabinets highlight the chef’s kitchen.

Outside, Mayweather enjoys a zero-edge swimming pool and spa, a deck, a private dock, and a rooftop patio complete with outdoor kitchen.

His upcoming fight is hyped as one of the biggest sporting events in history and is expected to break gate and pay-per-view records. Reports indicate that Mayweather will cash in anywhere from $300 million to $500 million on the bout. According to the latest Forbes reports, “The Best Ever” has a current net worth of $340 million.

The post Floyd Mayweather Flaunts His Prodigious Wealth in the Real Estate Market appeared first on Real Estate News & Insights | realtor.com®.

Source: Real Estate News and Advice – realtor.com » Real Estate News