F
loyd Mayweather Jr., the retired boxing legend, is making a big splash in New York City real estate. Over the weekend, he posted photos and videos on Instagram showcasing his massive purchase of a 62-building multifamily portfolio in Upper Manhattan for $402 million.

    This isn't Mayweather's first foray into property investing. He previously toured luxury apartments in Soho and a Gilded Age mansion before settling on a high-end unit at the Baccarat Hotel and Residences in Midtown. He also sold a $22 million home in Miami last year and recently listed his $12.5 million Las Vegas mansion.

    Mayweather's real estate portfolio is concentrated in Upper Manhattan, where he has acquired over 1,000 units across 62 buildings. Many of these properties are rent-stabilized, making this acquisition a rare occurrence in today's market. High borrowing costs have deterred investors from affordable housing projects in recent years.

    The purchase was made through Mayweather's new real estate investment firm, Vada Properties. In addition to his real estate ventures, Mayweather has also invested $100 million in a luxury rental portfolio joint venture and another $100 million in nine skyscrapers with office landlord SL Green.

    Mayweather took to Instagram to flaunt his new acquisition, declaring "No partners, all by myself" as he paced down the street in front of one of the buildings. He emphasized that owning these properties is about making power moves and creating wealth. With this massive purchase, Mayweather solidifies his position as a savvy real estate investor and continues to expand his business empire outside of boxing.