The Real Deal Miami

Israeli developer adds to Flagler Street holdings

Moishe Mana spent $35M on 48 to 76 East Flagler in downtown Miami

January 19, 2015 09:45AM

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Flagler Street properties and Israeli developer Moishe Mana

Flagler Street properties and Israeli developer Moishe Mana

Israeli developer Moishe Mana continues to add to his downtown Miami portfolio with another Flagler Street property.

Mana, who’s spent more than $33 million on Flagler Street alone, reportedly bought 48 to 76 East Flagler Street for $35 million.

TIR Prime Properties’ Mariano Saal brokered the sale for the 1.1-acre site. The double-lot is zoned for office, hotel, residential and retail and can be developed up to 80 stories high with more than 1,100 residential units allowed, according to the real estate company’s website.

Saal told the South Florida Business Journal he’s not sure what Mana will do with the property.

Earlier this month, a Mana-led company paid $7.6 million for three buildings and a lot adjacent to the new property, totaling 17,400 square feet. There are two remaining parcels on that block that his company does not own: one is currently housing Macy’s at 22 East Flagler Street and the other is a vacant lot at 30 East Flagler Street. New York-based Aetna Realty owns the Macy’s building, according to property records. — Katherine Kallergis

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