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Floyd Mayweather Jr. is closing out the year with yet another major real estate move: the purchase of a large stake in Eli Gindi’s ownership of Villa Casa Casuarina, formerly the iconic Versace Mansion in Miami Beach, Florida, The Real Deal reported Thursday.
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The acquisition is a partnership involving Mayweather, New York real estate investor Gindi and the Nakash family, founders of the Jordache fashion brand turned global conglomerate. The Nakash family purchased the mansion at auction in 2013 for an astonishing $41.5 million in partnership with the Gindi family, who founded the Century 21 department store chain.
Ayal Frist of AlphaTech Real Estate Group is brokering the deal, with Morris Missry of Wachtel Missry representing Mayweather. The transaction is expected to be finalized in early 2025.
According to sources, the retired boxer will assume the majority of Gindi’s interest in the mansion, located at 1116 Ocean Drive, for an undisclosed amount. Villa Casa Casuarina, which Gindi once described as “one of the most iconic properties,” was listed at $150 million.
“I feel blessed to be a part of such an important piece of real estate,” Mayweather said in a statement to The Real Deal. “Eli Gindi and the Nakash family are real estate royalty.”
Apart from Villa Casa Casuarina, the Nakash family owns several hotels on Ocean Drive.
Villa Casa Casuarina, originally built in 1930 by Alden Freeman, spans 23,462 square feet across three stories and sits on a 0.4-acre lot. Once the home of slain Italian fashion designer Gianni Versace, it has since been converted into a luxury boutique hotel featuring a restaurant, spa, pool and lounge.
Mayweather and his partners plan to expand public access to the mansion, The Real Deal reported.
This latest acquisition follows Mayweather’s recent sale of his Miami Beach waterfront mansion for $22 million and the listing of his Las Vegas estate for $12.5 million, the Las Vegas Review-Journal reported. His commercial real estate investments include a stake in 601W Companies’ $10 billion portfolio and over $100 million invested with SL Green.
In October, Mayweather purchased a 1,000-unit affordable housing portfolio in Upper Manhattan from Black Spruce Management for $402 million.
