A magnificent new waterfront property close to Miami Beach cost $18 mιllιon to be purchased by former boxing champion Floyd Mayweather Jr. The contemporary three-story home is situated on Palm Island, a gated, upscale area of the city. The average asking price for a home there in July was $21 mιllιon, according to data from realtor.com, a startling 200% increase from the same time in 2020.

Mr. Mayweather, 44, was dubbed the highest-paid athlete of the ten years by Forbes in 2019 after earning $915 mιllιon over a ten-year period. He purchased the home last week using a Nevada limited liability company, of which he is the manager, according to property records.

His sumptuous new house is 10,853 square feet in size and boasts unobstructed views of the city skyline, passing cruise ships, and the coveted city sunset, according to the listing with Douglas Elliman’s Dina Goldentayer and Ana Viyella, who declined to comment on the transaction.

The nine-bedroom estate was created for both inside and outdoor recreation, according to the description. It includes an indoor movie theater, a gym, a game room, a large entertainment area, smart home technology, and an elevator in addition to having modern, minimalist decor.

There is also a roof deck, a pool, a four-car garage, and a private dock that can accommodate boats up to 100 feet. Tanasha Pettigrew of Galleria International Realty represented Mr. Mayweather in the deal.

This most recent addition to Mr. Mayweather’s real estate portfolio joins a palatial Las Vegas property he bought in 2018 for $10 mιllιon and a French Modern-style estate in Beverly Hills he bought in 2017 for $26 mιllιon.