Moishe Mana is buying more property in downtown Miami.
Yesterday, Mana closed on the purchase of 100 S. Miami Ave. for $3.5 million. The property includes a 10,949-square-foot two-story building on an 8,000-square-foot parcel.
Mana is also in contract to purchase two additional properties for up to $40 million, according to Colliers International South Florida broker Mika Mattingly, who represented is representing Mana on all of the purchases. Mattingly also represented the sellers at 100 S. Miami Ave.
“This property is strategically located in the middle of Mana’s assemblage in downtown Miami and a 10-minute walk to the iconic Brickell City Centre,” said Mattingly. “The transaction highlights the growing demand for assets in downtown Miami. I am not aware of any other neighborhood in Miami that had scored so many large transactions in less than three months. Just our division alone closed LaEpoca, Metro Mall and the White Building within 12 weeks. With inventory starting to dwindle in downtown Miami, we can expect prices to continue rising.”
Mattingly also released the following statement on the purchase:
Mana’s buying spree since 2014 has ignited a renaissance on and around the historic Flagler Street. The new acquisition is another piece of the puzzle to Mana’s proposal to remake Flagler Street into a curbless, pedestrian-friendly Downtown thoroughfare. Mana plans to redevelop his portfolio into retail, office and residential projects that will better serve the shifting dynamic of the urban core — quickly becoming a vibrant, round-the-clock community.