News Summary
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.
Deeper Dive: News & Info About This Topic
- Crain’s New York: Avi Davidov Buys Diamond Exchange Site
- Wikipedia: Diamond
- NBC New York: Diamond District Raid
- Google Search: Diamond District NYC
- NY Post: Brawlers in NYC Jewelry Exchange
- Encyclopedia Britannica: Jewelry
- Crain’s New York: NYC Deals of the Day
- Google News: Floyd Mayweather Diamonds
Author: STAFF HERE NEW YORK WRITER
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
