Moishe Mana boosts loan to $75M

48 to 76 East Flagler Street and Moishe Mana
48 to 76 East Flagler Street and Moishe Mana

Developer Moishe Mana took down $54 million on a $75 million facility for a handful of properties he owns in Wynwood and downtown Miami, according to a mortgage recorded in Miami-Dade County records on Friday. 

Mana’s companies, 48-76 East Flagler Realty, Megan Holdings and Mannigan Holdings, have so far borrowed the $54 million out of an approved $75 million loan facility. The loan covers the following properties:

  • 48 to 76 East Flagler Street, which Mana bought in January for $35 million.
  • 210 Northwest 22nd Terrace, which Mana purchased in December 2011 for $3.6 million.
  • 318 Northwest 23rd Street, Mana Wynwood. He acquired the 8.7-acre site in 2010, records show.

Sign Up for the undefined Newsletter

Mana has amassed properties on and around Flagler Street, as well as more than 30 acres in Wynwood. Most recently, he spent $32 million on the buildings at 26 Southeast First Street and 155 South Miami Avenue.

Last month, Miami-Dade’s Economic Development Committee backed a land swap-construction deal between the county and Mana. The deal gives his Mapton Holdings, a subsidiary of Mana Wynwood, 1.4 more acres. In exchange, Mana Wynwood will give the county 15,715 square feet of land valued at $3 million. Mana Wynwood will also build a $7.37 million, three-story, 45,912 square foot county facility with 29 indoor parking spaces.

Mana has yet to reveal his redevelopment plans for the area.