- Floyd Mayweather Jr. has invested in 601W Companies’ $10 billion office portfolio, comprising 18 buildings and 10 million square feet.
- The move marks Mayweather’s largest investment, adding to his multifamily and office holdings.
- The retired boxer sees long-term potential in distressed and redeveloped office properties, particularly in cities like New York and Chicago.
After a record-breaking multifamily deal last month, Floyd Mayweather Jr. is turning his attention to the office market. The boxing legend is now a partner in 601W Companies’ extensive office portfolio reports The Real Deal, betting on a resurgence in the post-pandemic sector.
Mayweather’s stake in the $10 billion portfolio includes landmark properties like Hudson Yards’ 410 10th Avenue in New York, Chicago’s Aon Center and Old Post Office Building, and Jersey City’s Harborside complex. While the exact amount of his investment remains confidential, a source confirmed it is his most significant financial commitment to date.
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The 601W portfolio has faced challenges, such as occupancy dips at 410 10th Avenue and a reappraisal of the Aon Center, but the landlord’s proactive refinancing and repositioning strategies have kept properties viable.
Mayweather’s spokesperson emphasized his confidence in 601W’s ability to adapt in a shifting office market. The company is exploring acquisitions of distressed office properties in top-tier cities, with a focus on redevelopment opportunities.
601W is no stranger to navigating the turbulence of the office market. The firm has successfully renegotiated loans, attracted major tenants, and secured new financing for several properties, signaling its resilience and expertise in the sector.
Mayweather’s investment highlights a broader trend of high-net-worth individuals venturing into commercial real estate, betting on recovery and growth in urban office markets. As office vacancies fluctuate, strategic redevelopments offer opportunities for significant returns.
Mayweather remains bullish on New York City’s real estate market, expressing optimism about the long-term value of his investments. With the office market shifting, Mayweather’s bet reflects confidence in the recovery of urban commercial centers.
