Boxing legend Floyd Mayweather has dropped $18 million on a waterfront mansion on Miami Beach’s prestigious Palm Island. Mayweather closed on 288 South Coconut Lane on Palm Island nearly one year after he sold his home on Miami Beach’s Pine Tree Drive in October 2020 for $6.3 million. 288 South Coconut Lane was listed for $19.9 million with Dina Goldentayer of Douglas Elliman and Tanasha Pettigrew of Galleria International Realty represented Mayweather.

288 South Coconut Lane was developed in 2011 and offers 9-bedrooms, 10.5 bathrooms spread over 10,853 SF. The home was designed by Ramon Pacheco of Pacheco Architecture and features a gym, chef’s kitchen, dining room, master-suite with views of Biscayne Bay and parking for up to 10-cars. The lavish home also features a landscaped roof deck, private dock, pool and unobstructed views of Downtown Miami’s skyline and Port Miami.

Miami’s ultra-luxury waterfront real estate market has been on fire lately. Recently Dreampact Ventures co-founder Fued Sadala purchased 9814 West Broadview Drive in the Bay Harbor Islands for $12 million, a record for a waterfront sale in the neighborhood; famed musician and producer partners Emilio and Gloria Estefan sold their Star Island “guest estate”for $35 million; real estate investor Andrew Mirmelli recently closed on a Hibiscus Island home for $21 million before immediately listing it for $30 million; spec home developer James Curnin sold his Modern Farmhouse on Allison Island for $13,875,000; and the Miami-Dade record for most expensive home was broken with the currently under construction 3488 Saint Gaudens Road in Coconut Grove selling for a record $65 million.