Moishe Mana continues to add to his holdings on Flagler Street, with the hope that the area will become ‘a SoHo of the South.’
In an interview with the New York Times published this weekend, Mana ‘insisted’ that Flagler Street is set to become Miami’s next hot spot, enabling him to profit.
The Israeli entrepreneur hopes to replicate his success in New York’s Meat Packing district, where he opened Milk Studios right before the area became popular.
Just last week, Mana purchased an additional $35 million worth of property at 48 and 76 East Flagler Street. The newly acquired property includes 161,081 of building area on 1.1 acres of land. He paid nearly triple the price that it sold for in 2012.
Mana has now spent at least $68 million buying 410,000 square feet of retail space on Flagler Street.
Mana’s latest purchase, 48-76 East Flagler Street (photo via Mariano Saal)