*Floyd Mayweather is expanding his real estate holdings with a significant purchase in New York City.
TMZ reports that the infamous boxing champ is acquiring a building on 6th Avenue and 47th Street for over $20 million. The property, located at 1196 6th Ave., includes offices, a diamond exchange, and a profitable billboard.
“I used to shop in the diamond exchange as a young adult,” Mayweather said in a statement. “I never thought I would end up owning this important property at the entrance of 47th street.”
“Through hard work and dedication anything is possible,” he added.
Back in October, Floyd purchased more than 60 buildings in NYC in a $402 million deal for a collection of over 1,000 units spread across more than 60 buildings, primarily located in Upper Manhattan, Hollywood Unlocked reports. The seller of this portfolio is Black Spruce Management, and some of the properties within its portfolio benefit from Article XI, which provides tax exemptions for developments that meet certain affordable housing criteria.
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Mayweather previosuly invested in skyscrapers in NYV and he was involved in SL Green’s casino bid in Times Square, per The Real Deal. The 60 buildings he recently scooped hold personal significance, as Floyd has openly shared his challenging upbringing.
“This purchase holds deep emotional significance for me and my family,” the superstar boxer said in a statement.
Mayweather grew up in a crowded one-bedroom apartment in New Jersey, which motivated his investment in affordable housing. “When people see what I have now, they have no idea of where I came from and how I didn’t have anything growing up,” he told Mercury News in 2007.
READ MORE FROM EURWEB.COM: Floyd Mayweather Set to Purchase $402 Million Worth of NYC Apartments
