Floyd Mayweather just took a rare loss off the scorecards, as his Palm Island waterfront home in Miami Beach has closed for about $18.5 million. The three-story estate, built in 2011 and marketed as a turnkey trophy property, finally moved after months on the market with an asking price near $23 million. The latest sale comes on the heels of a November 2024 transfer, when Mayweather sold the property to an LLC tied to a New York investor.
Sale Details And The Markdown
According to The Real Deal, an LLC connected to Black Spruce Management’s Josh Gotlib sold the home at 288 South Coconut Lane for roughly $18.5 million. The outlet reports that Mayweather had previously transferred the house to that LLC in November 2024 for $22 million, turning the latest flip into a notable markdown in one of Miami Beach’s priciest enclaves.
MLS Numbers And What’s Inside
Listing and MLS data show the home closed in early July for $18,518,000 and list eight bedrooms and nine-and-a-half bathrooms across roughly 9,094 square feet. The property lines up with what Palm Island buyers expect at this level: a private dock, a pool, an indoor movie theater and room for multiple cars. The Douglas Elliman listing names Oliver Lloyd as the seller’s agent and notes Dina Goldentayer as the buyer’s co-broker on the deal. Redfin records the closing on July 8, 2026 and tracks the listing’s recent price history.
Agent Comments And Buyer Details
Douglas Elliman’s Oliver Lloyd, who represented the seller, told The Real Deal that high-end buyers are chasing “big houses, best lots, new, turnkey” properties, a wish list brokers say is increasingly driving negotiations at the very top of the market. Goldentayer, also with Douglas Elliman, brought the buyer to the table but declined to identify them, and the deed had not been recorded at the time of reporting.
What The Sale Says About Miami’s Trophy Market
Recent market reports from Douglas Elliman and appraisal firm Miller Samuel show that Miami Beach’s ultra-luxury segment is picky, even when it comes to glitzy addresses on the barrier islands. There is limited trophy inventory, which can create competition, but buyers are increasingly insisting on turnkey condition and pricing that lines up with comps rather than wishful thinking. That combination can produce strong numbers for perfectly positioned listings and noticeable markdowns for properties that linger or launch too far above recent evidence. Miller Samuel provides a recent snapshot of those shifting metrics for Miami Beach.
For now, the Palm Island closing underscores that even marquee mansions do not get a free pass from market math. Brokers say the next wave of summer closings and fresh comps will reveal whether the roughly $18.5 million sale becomes a new benchmark for similar waterfront spreads or reads as a one-off in a still-evolving ultra-luxury landscape.
