Moishe Mana keeps buying downtown Miami properties

Miami /
Mar.March 09, 2015 12:00 PM

Israeli businessman Moishe Mana, who has been buying up properties along downtown Miami’s Flagler Street, has again expanded his holdings.

Mana paid $7.8  million, or $262 per square foot, for a 29,748-square-foot retail building at 32 Southeast First Street, less than a block from the residential development Centro and the soon-to-open Langford Hotel.

The building, which was built in 1920, sits on a 19,775-square-foot parcel, which translates to a purchase of $394 per square foot for the land. The T6-80 zoning allows for development of more than 450,000 square feet and 448 units, according to a news release.

The latest purchase brings Mana’s downtown Miami holdings to 530,000 square feet of retail properties, and nearly five acres of land.

Mana bought the 32 Southeast First Street property from DPQ Associates Ltd., whose general partner is the Quittner Group, according to public records.

Shai Ben-Ami of Sterling Equity Commercial represented Mana’s company, 32-60 SE Holdings LLC, in the purchase. Mika Mattingly, also of Sterling Equity Commercial, represented the seller. The deal was completed February 26.

Last month, Mana also purchased the Thomas Center, at 172 West Flagler Street and 21 Southwest Second Avenue, for $5.1 million. The two-story property totals 26,083 square feet, and represents a strategic addition to his growing downtown Miami portfolio, because it connects Flagler to the burgeoning Miami River area.

“From a distance it may seem like Monopoly game moves, but rather than rolling the dice, Mana has engaged his instincts to assemble a critical mass in the downtown urban core,” Mattingly said in a statement, “which will soon reveal a compelling pattern and story.”


Related Articles

arrow_forward_ios
Nicky Jame and One Thousand Museum (Getty, One Thousand Museum)
Reggaeton artist Nicky Jam picks up downtown Miami condo
Reggaeton artist Nicky Jam picks up downtown Miami condo
48 and 76 East Flagler Street with Moishe Mana (Google Maps)
Moishe Mana’s downtown Miami buildings declared unsafe, ordered evacuated
Moishe Mana’s downtown Miami buildings declared unsafe, ordered evacuated
1301 North Miami Avenue with Martin Melo and Carlos Melo (Google Maps)
Melo Group pays $17M for assemblage north of downtown Miami
Melo Group pays $17M for assemblage north of downtown Miami
Rendering of the Legacy Hotel & Residences and exam room (Legacy Hotel & Residences)
Lease roundup: Blue Zones to run Legacy Hotel & Residences health and wellness hub at Miami Worldcenter & more
Lease roundup: Blue Zones to run Legacy Hotel & Residences health and wellness hub at Miami Worldcenter & more
East End Capital founders and managing principals Jonathon Yormak and David Peretz with the tower (East End)
East End Capital execs illegally keeping $860K from Australian partner in Miami tower, lawsuit says
East End Capital execs illegally keeping $860K from Australian partner in Miami tower, lawsuit says
Brightline CEO Patrick Goodard with the Fort Lauderdale station (Brightline)
FECI obtains $200M in financing tied to sites near Brightline stations
FECI obtains $200M in financing tied to sites near Brightline stations
Federal prosecutors allege Naman Wakil laundered ill-gotten Venezuelan contracts with Miami area condo purchases (Getty)
Miami man charged in Venezuelan money laundering scheme, allegedly using proceeds to buy condos
Miami man charged in Venezuelan money laundering scheme, allegedly using proceeds to buy condos
Renderings of the approved tower
Lions Group NYC buys downtown Miami dev site to build apartment tower
Lions Group NYC buys downtown Miami dev site to build apartment tower
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...