Moishe Mana Buys Downtown Miami’s Silver Bell Building

Moishe Mana continues buying in downtown Miami.

Mana’s most recent purchase was when he paid $2.3M for the the Silver Bell Building. Located at 108 S. Miami Avenue, it is a three-story, 7,610-square-foot building made up of two bay retail store-fronts and two floors of office space.

Colliers International South Florida broker Mika Mattingly, who leads the firm’s Urban Core Division, represented Mana in the transaction. The seller is Silver Bell Building Corp.

The New Jersey and Miami-based developer Mana has strategically worked with Mattingly in recent years to amass a portfolio of more than 40 properties in the urban core of Downtown Miami.

Mana’s buying spree since 2014 has ignited a renaissance on and around the historic Flagler Street, his agents say.  They also add that the new acquisition is another piece of the puzzle to Mana’s plan to transform downtown Miami. Mana plans to redevelop his portfolio into retail, office and residential projects that will better serve the shifting dynamic of the urban core, which is quickly becoming a vibrant, round-the-clock community.

“This property is in the middle of everything exciting that is happening in downtown Miami, including Virgin Trains USA, formerly Brightline. Moishe Mana sees tremendous potential in downtown’s strategic location so he is assembling as many properties as possible to own a critical mass. That way, he will be able to bring true change to the area to benefit the entire city of Miami. This specific acquisition made sense to him because he already owns the property next door. Mana now owns $315 million worth of real estate in downtown Miami. That includes about 1.65 million square feet of office and retail space and about 317,000 square feet of land. As Moishe repositions some of the properties – some of which are of historic value- downtown Miami is beginning to attract a new generation of tenants and new industries,” said Mika Mattingly, co-leader of the Urban Core division at Colliers International South Florida. She brokered nearly 95 percent of Moishe Mana’s acquisitions.

 

(photo:phillip pessar)

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Anonymous

Exactly, everything is happening AROUND his properties. yawn

marc

Yeah, if you mean Park West, Brickell, Overtown, Edgewater, Wynwood, etc, then sure.

Anonymous

Is this a defense? Either way, the condition of these buildings that he owns and continues to gobble up Is deplorable.

If he can’t even throw up some fresh paint and a few awnings to fix what is already there to make the area somewhat presentable, what makes anyone think that anything of substance will be done in the neighborhood.

Anonymous

There are few people that I dislike more than this guy. I wish the Melos were buying more properties at least they would create something instead of keeping these buildings in a time bubble where nothing will ever change.

Anonymous

It’s called the free market. Nothing has stopped other developers or you from buying these same properties. They did not see the same value in the market. Land banking is a real estate development strategy and a lucrative one. Truth be told that area was never going to develop for 10 to 15 years anyway.

Anonymous

Quaint 1910s-20s building > Crappy Melo box. Then again, by the time Mana sells this building, it will have rotted to the point of demolition by neglect.

Anonymous

The article reads like a press release from Mana and the broker…

Anonymous

Renaissance? Everything in the urban core BUT Flagler Street and the surrounding area has changed because Mana hasn’t done anything for YEARS. Thus far he is a slum lord at best and is holding back the CBD.

Anonymous

Oh it’s changed, meaning become worse. Macy’s is gone, graffiti is everywhere, and the street hasn’t even been rebuilt because your’s truly wants somebody else footing the bill to make it curbless so he can flip properties at a higher price.

Anonymous

Cool story brah.

-Melo family

Anonymous

Great… Yet another property for him to NOT develop and fall into disrepair for the next 30 years

Anonymous

Buys*

Anonymous

I’m sure Ms. Mika will type up whatever press release Mr. Mana wants as she must be sitting pretty on all that commission money!

Anonymous

Except he hasn’t show he will develop a damn thing in Downtown Miami.

Without a doubt he is going to flip all of these for profit after all of the development around his properties is done.

Anonymous

that should be a crime.

Sgt. Sapingo

Land banking big time

Anonymous

He became a billionaire from flipping property… it’s messed up that he can buy land then sit on it until some one buys it. All the promises this guy has made an nothing has happened yet.I vote to kick him out of Miami for good!

Anonymous

What renaissance. Everytime I walk buy this area another business has closed. The camel’s hump restaurant recently went out of business.

Anonymous

a few cool bars – mama tried, lonely boy, new brewery coming – but yes i agree overall

Anonymous

This was an infamous S&M Bar in the 1970s and 80s called The Mine Shaft.

Anonymous

I think I was born in the wrong decade. A business like that today would never be allowed to open in the CBD. The only things better we have today are the internet and cell phones and even that is debatable.

Anon

the weirdest thing about all this is that he puts his face out there and doesn’t buy under anonymous shell companies like most people do.

Anonymous

Yeah this I don’t understand. Why all the publicity? It actually increases his costs with reluctant sellers wanting more money. The better strategy is to buy anonymously with shell companies like disney did in the 60s in orlando. Then flip them when the market is right.

Anonymous

If Mana actually goes through with his vision it could transform downtown for the better. But that’s a big if, I’m hopeful that it gets done and it would be nice to keep some of those historical buildings just to help give downtown a bit more character.

Don’t like this mana creep

Mana will never build anything ever he is totally full of crap he is just an investor/land bank type. He spends all his time partying with 19year old hookers dude is gross.

Anonymous

Renaissance????

Miami’s downtown is the dirtiest and ugliest downtown of any major city in the country.

Anonymous

Been to downtown LA??

Anonymous

I’ve seen way dirtier and uglier places

Anonymous

Where was this guy when Tobacco road and Perricone’s were up for sale?