Moishe Mana pays $5.4M for Wynwood building on Fifth Ave.

Mana, who owns 30 acres in Wynwood, already has holdings on the block

TRD MIAMI /
Feb.February 05, 2016 01:30 PM

While Moishe Mana already owns more than 30 acres of land in Wynwood, it looks like the developer is not done acquiring property in the burgeoning arts district.

Mana paid $5.4 million for the retail building at 2450 Northwest Fifth Avenue, broker Ari Dispenza told The Real Deal. Dispenza’s Central Commercial Real Estate represented the seller, 5th Avenue Wynwood Partners LLC. The deal closed on Monday.

The 8,310-square-foot building sits on a 9,685-square-foot lot. That means it sold for about $650 per square foot for the building, which was constructed in 1955. The property is contiguous to the corner building on Northwest 24th Street and Fifth Avenue that Mana also own, as well as properties that wrap around the block onto 24th Street.

The LLC, which state records show is managed by Douglas H. Levine, paid $3.63 million for the building in 2014 as part of a bulk sale. Levine has been tied to other recent sales in Wynwood.

Mana has been working with property owners in Wynwood to resolve issues with his special area plan for about 24 acres in Wynwood. As planned, the 30-acre Mana Wynwood complex would include a public square, tech and media hubs, and plazas for open-air retail, courtyards and pocket parks. The SAP outlines development from Northwest Second Avenue to I-95 between Northwest 22nd Street and Northwest 24th Street.


Related Articles

arrow_forward_ios
From left: Benjamin Bernstein, Pan Shiyi, and Zhang Xin (Credit: Google Maps, Dickson Lee/South China Morning Post via Getty Images)

Lender closes on RedSky and JZ’s Wynwood assemblage

Lender closes on RedSky and JZ’s Wynwood assemblage
Wynwood Works rendering and Udonis Haslem (Credit: Bobby Metelus/Getty Images)

Magellan Housing and Miami Heat star Udonis Haslem to build Wynwood apartment project on city-owned land

Magellan Housing and Miami Heat star Udonis Haslem to build Wynwood apartment project on city-owned land
Peter Vauthy and Red South Beach (Getty)

The Weekly Dish: Red South Beach signs $5M lease for new space & more

The Weekly Dish: Red South Beach signs $5M lease for new space & more
Adam Henick, Stefano Santoro, and Brandon Charnas

Instagram ready: Current Real Estate Advisors expands to Miami

Instagram ready: Current Real Estate Advisors expands to Miami
Concrete Beach Brewery

Dogfish Head to take over Concrete Beach social hall in Wynwood

Dogfish Head to take over Concrete Beach social hall in Wynwood
Alex Rodriguez, Tom Murphy, Jorge Pérez, Gil Dezer, and Jackie Soffer (Credit: Michael Loccisano/Getty Images)

Money in the bank: Here are the South Florida real estate players who got PPP loans

Money in the bank: Here are the South Florida real estate players who got PPP loans
Foyer Wynwood and Jonathon Yormak

East End Capital scores approval for co-living project in Wynwood

East End Capital scores approval for co-living project in Wynwood
From left: Erik Rutter, David Weitz, David Levinson and Robert Lapidus, with 95 Northwest 29th Street (Credit: Google Maps)

Luxury office, resi project planned for former Rubell museum in Wynwood

Luxury office, resi project planned for former Rubell museum in Wynwood
arrow_forward_ios

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

Loading...