UPDATED, Aug. 12, 5:05 p.m.: Former boxing champion Floyd Mayweather Jr. beat other buyers to the punch with the $18 million purchase of a waterfront Miami Beach mansion.
Mayweather acquired the Palm Island home, with an indoor movie theater, gym, dock, pool and space for about 10 cars, on South Coconut Lane. The nine-bedroom, 10.5-bathroom estate was most recently asking $19.9 million.
Candido and Anabella Viyella sold the property on a third of a acre to Fojoso LLC, a Nevada entity managed by Mayweather, records show. The 10,853-square-foot house was built in 2011. Candido, a former Morgan Stanley managing director, was reportedly barred from the financial advisory industry earlier this year, according to CityWire Americas. He retired in December.
(DouglasElliman.com)
Dina Goldentayer of Douglas Elliman represented the sellers, while Tanasha Pettigrew of Galleria International Realty represented Mayweather, according to Realtor.com.
Mayweather, nicknamed “Money,” was the top earning athlete of the last decade, with Forbes reporting in 2019 that he earned $915 million. His record is 50-0 with 27 knockouts.
Last year, he sold his waterfront home on Pine Tree Drive in Miami Beach for $6.3 million, $1.4 million less than what he paid for the property in 2016.
Since his sale, the market for waterfront homes on the beach has exploded, with sellers raising asking prices, bidding wars among buyers, and limited inventory.
Recent deals include investor Andrew Mirmelli’s $21 million purchase of a Hibiscus Island home, which he then listed for sale for $30 million.
Gloria and Emilio Estefan also recently sold their Star Island guest house that is next to Sean “Diddy” Combs’ mansion for $35 million.
Editor’s note: This story has been updated to reflect Candido’s status in the financial advisory industry.