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

Miami /
Jul.July 02, 2015 10:30 AM

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.


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