The Real Deal Miami

Moishe Mana hopes to push Wynwood prices up with art complex project

June 28, 2013 02:00PM

Moishe Mana and Wynwood

Moishe Mana and Wynwood

Businessman Moishe Mana, who is looking to build a Tribeca-like neighborhood in Jersey City, has also set his sights on Miami real estate, Haaretz reported. Mana recently bought five blocks in the Wynwood neighborhood in Miami, and will build an art complex at the site.

The project is slated to create 45 art studios, two galleries, a restaurant, a dance hall and a sculpture fair, Mana — founder of the house-moving company Moishe’s — told Haaretz. He hopes to drive property values in the neighborhood up, he added.

“What differentiates Mana from others is the huge size of the area he owns,” Oscar Pedro Musibay, a South Florida Business Journal reporter, told Haaretz. “Because the neighborhood is currently undergoing an accelerated process of improvement, he’ll rake in big profits in any case, even if he does nothing now but wait for the property prices to rise.”

Last June, the Wynwood area received a $140,000 ArtPlace grant to go toward creating a Business Improvement District, as previously reported. [Haaretz]Hiten Samtani