Key Takeaways
- A waterfront mansion on Miami Beach’s Palm Island, once owned by Floyd Mayweather, just resold for $18.5 million, about $3.5 million less than it went for in November 2024, despite its eight bedrooms, private dock, pool, theater, gym, and parking for roughly 10 cars.
- Broker Oliver Lloyd says demand for $20–30 million-plus turnkey mansions in Miami remains intense even as this deal closed below the last sale and just under its nearly $23 million asking price.
- The sale ties back into Mayweather’s wider money drama, including a $175 million fraud lawsuit over New York real estate, reported IRS and criminal issues, and multiple civil cases, even as he chases new exhibition fights that keep getting derailed by more litigation.
A waterfront mansion once owned by Floyd Mayweather has changed hands again—and this time, it sold for significantly less than the price the boxing icon received less than two years ago.
Property records obtained by The Real Deal show the estate at 288 South Coconut Lane on Miami Beach's exclusive Palm Island sold for $18.5 million, roughly $3.5 million below the $22 million paid for the home in November 2024. The seller was an LLC tied to Black Spruce Management founder Josh Gotlib, which purchased the property from Mayweather as part of a broader business relationship that has since become the subject of litigation.
The eight-bedroom, 10,818-square-foot waterfront estate sits on one-third of an acre and features a private dock, pool, indoor movie theater, gym, and parking for approximately 10 vehicles. The home had been asking just under $23 million before selling for $18.5 million.
Douglas Elliman broker Oliver Lloyd, who represented the seller, said demand at the luxury end of the Miami market remains strong despite the lower sale price.
"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," Lloyd said. "These people want big houses, best lots, new, turnkey."
The sale also reconnects to one of Floyd Mayweather's biggest ongoing legal battles.
Around the same time Mayweather sold the mansion in late 2024, he invested in Gotlib's affordable housing portfolio in Manhattan. That transaction has since become part of Mayweather's $175 million fraud lawsuit against former adviser Jona Rechnitz and others.
Rechnitz has publicly denied those allegations, arguing instead that Mayweather's financial issues stem from years of excessive spending rather than fraud.
The real estate transaction is only the latest piece of a much larger financial picture surrounding the retired champion. Over the past several months, Mayweather has been linked to a reported $7.3 million IRS tax lien, felony charges in Nevada over allegations involving a $200,000 check used to purchase a luxury watch, lawsuits over unpaid rent, jewelry purchases, private jet services, and child support.
The latest property sale also isn't the first time one of Mayweather's former Miami Beach homes has lost value. In 2020, he sold another waterfront residence on Pine Tree Drive for approximately $6.3 million, below what he had originally paid for the property.
Despite the legal battles and financial headlines, Mayweather has continued pursuing boxing opportunities throughout 2026. His planned exhibition against Mike Zambidis was canceled after litigation involving promoter CSI Sports Events, while his long-awaited rematch with Manny Pacquiao has been postponed indefinitely as contractual disputes continue to play out.
