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Moishe Mana pays $74M for Museum Tower in downtown Miami
Seller Bridge Investment Group bought the building four years ago for $65M
Moishe Mana and a rendering of Museum Tower at 150 West Flagler Street in downtown Miami (Mana Common)
UPDATED, May 22, 6 p.m.
Moishe Mana, downtown Miami’s biggest property owner, bought the Museum Tower office building for $73.8 million.
Mana purchased the 28-story building at 150 West Flagler Street, with a plan to lure attorneys and others in the legal profession, he confirmed to TRD. Although he declined to disclose the price, social media real estate firm Traded reported it as $73.75 million.
“There’s lawyers running around the streets [in downtown,] and they have no place to sit and have no place to do any business in between courts,” Mana said.
He expects both Museum Tower and the adjacent 172 West Flagler Street building, which he also owns, to cater to the legal community, Mana said.
Salt Lake City, Utah-based Bridge Investment Group sold Museum tower, according to records. The firm had paid $64.6 million for the building in 2019. It spans roughly 250,000 square feet, making the latest sale about $295 per square foot.
Mika Mattingly and Cecilia Estevez of Colliers represented the buyer. Christian Lee and Sean Kelly of CBRE represented the seller.
The building is about 90 percent leased. Tenants include Bank of America, as well as law firms Stearns Weaver Miller Weissler Alhadeff & Sitterson and Luks Santaniello Petrillo Cohen & Peterfriend.
Museum Tower is the latest addition to Mana’s expansive portfolio along and near Flagler Street. He has been amassing properties for years, spending more than half a billion dollars for real estate that spans roughly 1.5 million square feet.