An opulent display within a Manhattan diamond exchange, highlighting the luxury of fine jewelry.
A company linked to boxer Floyd Mayweather Jr. has acquired a diamond exchange in Midtown Manhattan for $27 million. Jewelry Tower LLC, connected to jeweler Avi Davidov, purchased the property previously home to the West 47th St. Diamond Exchange. The seller, Jo Gelbard, has a unique artistic background, having sold the property after a long association. This acquisition highlights Mayweather’s expansion into real estate alongside his boxing legacy and emphasizes the intertwining of sports, luxury, and Manhattan’s competitive diamond market.
New York, NY – A company linked to renowned boxer Floyd Mayweather Jr. has made headlines with its recent acquisition of a diamond exchange in Midtown Manhattan for $27 million. Jewelry Tower LLC, a shell company associated with celebrity jeweler Avi Davidov, completed the purchase of the property located at 1192 Sixth Ave. on June 12, following a contract agreement made on January 10.
The property, previously home to the West 47th St. Diamond Exchange, spans 4,600 square feet and consists of a three-story building. The seller, Jo Gelbard, has been associated with the property since at least the 1960s, when it was owned by the Kaplan family. Notably, Gelbard, who was born Jo Kaplan, is an accomplished artist with a rich history in the arts and a well-documented relationship with the jazz trumpeter Miles Davis, who passed away in 1991.
The company selling the property is identified as Nalpak 1196 Company, LLC, a name that cleverly references the Kaplan surname spelled backwards. Gelbard not only sold the property but has also been involved in creative endeavors, showcasing paintings she created alongside Davis during their long-term relationship.
Avi Davidov, the jeweler behind the purchase, is known for creating luxurious pieces, including a 145-carat diamond-encrusted wristwatch valued at $1.8 million specifically designed for Mayweather. Currently, Davidov operates his jewelry business, Pristine Jewelers, located at 44 W. 47th St.. His business has gained recognition for crafting jewelry worn by numerous celebrities, including Cardi B, Fat Joe, and DJ Khaled.
Although widely recognized for his accomplishments in boxing, Mayweather, who retired in 2017 with an undefeated career spanning 21 years, has also made significant strides in real estate following his departure from the ring. He recently acquired a portfolio of 60 properties in NYC for an estimated $402 million. Despite his business successes, Mayweather has faced challenges, including filing a $100 million defamation lawsuit against a publication concerning alleged false claims about his real estate investments.
The property at 1196 Sixth Ave., newly acquired by Jewelry Tower LLC, is also listed on the website of Mayweather’s real estate firm, Vada Properties. Details regarding the involvement of Davidov’s partner, jeweler Ofir Ben Shimon, in the recent purchase remain undisclosed.
Efforts to obtain comments from Mayweather’s representatives and Jo Gelbard regarding the acquisition were unsuccessful, leaving details about future plans for the diamond exchange largely speculative.
This acquisition signifies a noteworthy investment in the vibrant and competitive landscape of Manhattan’s diamond market, further intertwining the worlds of sports, luxury, and real estate.
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