Floyd Mayweather Jr. will take over most of Gindi’s interest in the mansion at 1116 Ocean Drive for an undisclosed amount, according to sources.
Whether you’re refining your business model, mastering new technology, or finding a strategy to take advantage of the next market boom, Inman Connect New York prepares you to take a bold step. The next chapter is about to begin. Please join us. Join us and thousands of other real estate leaders from January 22-24, 2025.
Floyd Mayweather Jr. is ending the year with another big real estate move. It’s a big purchase of Eli Gindi’s ownership interest in Villa Casa Casuarina, once the iconic Versace mansion in Miami Beach, Florida, The Real Deal reported Thursday.
Participate in the November INMAN Intel Index Survey
The acquisition is the result of a partnership involving Mr. Mayweather, New York real estate investor Mr. Gindi, and the Nakash family, founders of fashion brand Joe Dash, which became a global conglomerate. The Nakash family, in partnership with the Gindy family, who founded the Century 21 department store chain, bought the mansion at auction in 2013 for an astonishing $41.5 million.
Ayal Hrist of Alphatec Real Estate Group brokered the deal, and Mayweather is represented by Morris Misley of Wachtel Misley. The transaction is expected to close in early 2025.
Sources say the retired boxer will take over the majority of Jindy’s interest in the mansion at 1116 Ocean Drive for an undisclosed amount. Villa Casa Casuarina, which Guindy once described as “one of the most iconic properties,” was listed for $150 million.
“I am happy to be a part of such an important property,” 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 was originally built in 1930 by Alden Freeman and measures 23,462 square feet over three stories and sits on a 0.4 acre lot. Once the home of murdered Italian fashion designer Gianni Versace, it has now been converted into a luxury boutique hotel with 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 a Miami Beach waterfront mansion for $22 million and the listing of a Las Vegas property for $12.5 million, the Las Vegas Review-Journal reported . His commercial real estate investments include a $10 billion portfolio stake in 601W Companies and a more than $100 million investment in SL Green.
In October, Mayweather purchased a 1,000-unit affordable housing portfolio in Upper Manhattan from Black Spruce Management for $402 million.
Email Richelle Hamiel
