The former home of boxing champion Floyd “Money” Mayweather Jr. traded hands for $18.5 million, a loss compared to the property’s previous trade in 2024.
An LLC tied to Black Spruce Management’s Josh Gotlib sold the 10,818-square-foot home at 288 South Coconut Lane in Miami Beach, according to property records and the listing.
Mayweather sold the property to the LLC in November 2024 for $22 million. Around the same time, Mayweather invested in Gotlib’s 1,000-unit affordable housing portfolio in Manhattan. That deal, previously reported as a $402 million sale, is part of the lawsuit that Mayweather brought against his former adviser, Jona Rechnitz.
Mayweather only acquired a small percentage of interest in the affordable housing portfolio with an option to acquire more over time, according to Business Insider.
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.
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 and has eight bedrooms and nine and a half bathrooms.
Douglas Elliman’s Oliver Lloyd represented the seller, whom he declined to comment on. Dina Goldentayer, also with Elliman, brought the buyer. She declined to identify the buyer, and the deed has not yet been recorded.
The house was asking nearly $23 million. Lloyd said that once it went under contract, a number of prospective buyers were interested in the house.
“The super high-end market, $20 million, $30 million-plus, there’s just not enough inventory for the amount of people I’m showing houses to,” he said. “These people want big houses, best lots, new, turnkey.”
Buyers are also looking to assemble compounds. This summer, venture capital investor Ben Ling and his husband, Hedge Labs co-founder Chris Coudron, bought the waterfront teardown next to their Palm Island mansion for $40 million. They purchased their home for about $29.5 million in 2021.
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Floyd ‘Money’ Mayweather Jr. sells waterfront Miami Beach mansion