Mana Buying Up To Another $44M In Downtown Properties

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.

 

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Anonymous

And now it will sit in that condition for years to come.

Anonymous

I’m no fan of mana. I just want to get that out of the way before I make my point, so no one will accuse me of being him or working for him.

Now let’s play a little devil’s advocate:

These properties he’s buying is and has always been underdeveloped. Why wasn’t anything done to those properties (by previous owners) in the decades before this POS got to Miami?

If you say previous owners lacked funds to develop it. Then why, didn’t they partner up with an experienced developer to develop the property? These kinds of real estate partner developments happen all the time.

Let’s try a hypothetical. For instance, maybe tough bureaucratic regulation on developing the properties. It’s hard to imagine a commercial property with a major development opportunity would sell very cheap for $3.5M. Developers have been eating up land for many many times that price. $3.5M is pocket change to developers that bought land for over $100M (Astin Martin building) and over $200M (Bal Harbour).

Anonymous

Where does this guy get all this money from???

Anon y Mous

This guy is enemy numero uno of downtown revitalization!

Anonymous

And second is MDC Wolfson.

Anonymous

City code should push something against building upkeep so he has to move on the properties

SRS

Exactly!!! If he plans to do nothing, he could ruin downtown…finito!!

Anonymous

This guy is either a genius or… ?

Let’s see how this all plays out. Takes time.

Anonymous

He’s flipping for when Worldcenter comes.

Anonymous

20 million loan….another 40 million land hog

Anonymous

” Mana’s buying spree since 2014 has ignited a renaissance ”

I love it. lol

Anonymous

yes just wait.

Anonymous

Mika theres so much activity because your slum lord client is buying everything with your help. Core downtown Miami is medicore at best and will always be until some with experience comes and does something. Fool

Anonymous

Hello! You have no idea what your talking about. Mana is going to blow you allaway with his simple yet genius plan.

anonymous

Cornering downtown’s vacant stores and lots. Genius.

Anonymous

HQ2 anyone?

Anonymous

This is call bank landing ….. not bad idea if you have the financial support from investors , he is getting control all of the area and then sell to the higher bidder

Anonymous

Lol land banking you mean?

Anonymous

People are always on this site complaining about the width of newly finished sidewalks in front of new projects but these pictures shows you the real scarcity of bodies on sidewalks downtown and why all these complaints are so ignorant and useless.

Anonymous

this is literally one of the worst intersections in downtown, this intersection is stuck in the 80s. Its old disgusting run down and not maintained even the metro mover is rekt.

Anonymous

That barber shop/ mens grooming products is the only thing that has lasted on that intersection for over ten years.

Anonymous

If Mana’s in a headline, you can assume there will be a scarcity of bodies–and new buildings.

Anonymous

If he would develop the properties or sell them maybe those sidewalks would fill up?