The Real Deal Miami

More for Moishe Mana: another $32M in downtown Miami

Mana already owns parcels on the same block and half a city block directly east

July 02, 2015 10:30AM
By Katherine Kallergis

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155 South Miami Avenue and 26 Southeast First Street and Moishe Mana

155 South Miami Avenue, 26 Southeast First Street and Moishe Mana

Investor and developer Moishe Mana added two more properties to his sizable downtown Miami portfolio: 26 Southeast First Street and 155 South Miami Avenue.

Mana spent $32 million on the buildings, which total 41,450 square feet. Columbus Properties was the seller, according to Miami-Dade County records. Mana owns about half a city block directly east of his latest acquisition.

The four-story parking garage at 26 Southeast First Street was built in 1956 and sits on a 30,050-square-foot lot. It last sold for $10.25 million in November 2007, property records show. The other property, a 13-story office tower around the block at 155 South Miami Avenue, was built in 1980 and last sold for $18.5 million in June 2006. It sits on an 11,400-square-foot lot.

In March, he paid $7.8 million, or $262 per square foot, for a 29,748-square-foot retail building at 32 Southeast First Street. Other owners on the block include 3 Palms Enterprises LLC and First & First Prop Inc.

Just southeast of that block, the majority interest of the historic, mixed-use Security Building sold for $23.5 million, The Real Deal reported this week. Mana owns property next door to that as well: the buildings at 130 and 134 East Flagler Street, which he acquired in July 2014 for $2.5 million.

Mana has spent more than $75 million this year on downtown Miami properties. Most recently, Mana paid $4.5 million for the 6,194-square-foot building at 110 East Flagler Street. The Israeli businessman owns a bundle of properties on the block directly north: in January, he spent $35 million on 48 to 76 East Flagler Street. He also purchased the Thomas Center, at 172 West Flagler Street and 21 Southwest Second Avenue, for $5.1 million earlier this year.

Mana, who is also active in Wynwood, has yet to release his plans for his portfolio in downtown Miami.