Moishe Mana’s not done yet, picks up downtown Miami lot

He paid $618 psf for a vacant lot on Northeast First Street

Nov.November 16, 2017 11:30 AM

Moishe Mana and the lot at 151 Northeast First Street in downtown Miami (Credit: Google Maps)

Moishe Mana is still in buying mode.

The investor and developer just paid $9.27 million, or $618 per square foot, for a 15,000-square-foot lot at 151 Northeast First Street in downtown Miami, according to Mika Mattingly of Colliers International South Florida. It brings his grand total in downtown Miami to more than $267 million spent on 42 properties.

Mattingly represented Mana, and Jay Chung of Elijah Venture Corp. represented the seller, Erie Corporation. The sale has not yet been recorded online.

Records show Mana owns the narrow building to the immediate west at 145 Northeast First Street, which he acquired in 2014 for $2.13 million. That building is next to the Dade-Commonwealth building, which sold in 2015 to a joint venture between a sister fund of Paris-based Beekman REIM and Immocorp Capital, with plans to convert the property into a hotel. And around the corner from that is where WeWork will open its flagship Security Building location next month.

In June, a company controlled by Mana paid $4 million, or $667 per square foot, for the 6,000-square-foot lot at 30 East Flagler Street, giving him control of about half of that city block anchored by Macy’s.

He now owns 1 million square feet of building space and 8 acres of land in the Flagler area of downtown Miami. Mattingly, who’s handled most of those acquisitions, said he’ll unveil his plans for the area “in the months to come.” That includes converting the properties into retail, office and residential. Zyscovich Architects is designing the project.

In Wynwood, Mana has amassed 40 acres where he plans to build the Mana Wynwood Americas-Asia Trade Center & International Financial Center, a trade hub and cultural campus set to break ground next year.

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