Floyd Mayweather Jr. once appeared ready to add one of the most famous properties in America to his real estate portfolio: the former Versace Mansion in Miami Beach. But despite public statements celebrating the investment opportunity, the boxing legend actually never completed the purchase.
What Happened to the Deal
The revelation comes as Mayweather is pursuing a $175 million lawsuit against former adviser Jona Rechnitz, associate Ayal Frist, and attorney Alexander Seligson, alleging a years-long scheme that siphoned money, assets, and investments from his fortune.
At the center of the latest disclosure is Villa Casa Casuarina, the iconic Ocean Drive estate once owned by murdered fashion designer Gianni Versace. In 2024, reports indicated that Mayweather planned to acquire a majority share of real estate investor Eli Gindi’s stake in the property, The Real Deal reported.
At the time, Mayweather called the mansion “such an important piece of real estate.”
But according to Gindi, the deal never closed.
Gindi confirmed that Mayweather placed a $250,000 deposit on the transaction, hosted a birthday celebration at the property, and considered purchasing what would have amounted to roughly a 20 percent ownership interest. Yet the boxing champion decided not to move forward. Gindi claimed he later returned the deposit.
The property remains owned by the Nakash family through Jordache Enterprises, which purchased the estate for $41.5 million at a bankruptcy auction in 2013.
Known as the Versace Mansion, the property was originally built in 1930 as Casa Casuarina by wealthy architect and world traveler Alden Freeman. The estate was inspired by the Alcázar de Colón in the Dominican Republic, one of the oldest residences in the Western Hemisphere.
The mansion became internationally famous after famed designer Giovanni Versace purchased it in 1992 for $2.95 million and acquired the neighboring Revere Hotel site for an additional $3.7 million. Versace invested an estimated $32 million transforming the property into a lavish private residence complete with a mosaic-lined swimming pool, gardens, and luxury suites.
Versace was murdered on the mansion’s front steps on July 15, 1997, forever linking the property to one of fashion’s most tragic stories.
Today, the estate operates as a luxury boutique hotel, restaurant, spa, event venue, and tourist attraction.
The failed Miami Beach investment by Mayweather and his other real estate dealings are now under scrutiny in his legal battle against Rechnitz.
According to court filings, Mayweather alleges Rechnitz gained control over many of his financial affairs and presented himself as a trusted adviser overseeing investments, banking relationships, and real estate transactions.
The lawsuit claims Rechnitz orchestrated a multi-year fraud that involved unauthorized wire transfers, questionable investment deals, and the diversion of assets into accounts controlled by Rechnitz and his associates.
Among the various allegations, many involve real estate settlements and investment structures that Mayweather says diverted millions of dollars away from him.
One claim centers on a Manhattan residential portfolio that allegedly included approximately 1,000 apartment units. Mayweather contends that he believed he held a much larger interest in the investment than documents later reflected.
The defendants have denied all allegations, saying the lawsuit is baseless.
