Moishe Mana is “near completion on his downtown assemblage” after purchasing another property for $4 million, according to a press release.
Mana now controls nearly 9 acres, the threshold for a SAP under Miami 21.
He is set to unveil his “grand vision” for the area “very soon,” the release stated. The plan is to “eventually redevelop his portfolio into retail, office and residential projects that will better serve the shifting dynamic of the urban core.”
Colliers’ Urban Core Division Represents Buyer Moishe Mana in the
Acquisition of 30 East Flagler Street
Vacant parcel becomes 41st property in his downtown Miami investment portfolio
Miami, June 23, 2017 – As Downtown Miami prepares for a wave of new development, investor Moishe Mana acquired one of the few remaining vacant land parcels on Flagler Street, the latest in a series of strategic acquisitions represented by Mika Mattingly of the Urban Core Division at Colliers International. Through 30 East Flagler Realty, LLC, Mana purchased the 6,000 square foot vacant lot for $4 million from seller 26 East Realty Corporation, represented by Kerry Newman of Koniver Stern Group.
The sale price breaks down to $666 per square foot and strategically positions Mana with a sizeable block ownership – amassing a new total of 70,500 square feet owned on the block that runs along Flagler between S. Miami Avenue and SE 1st Avenue. Additionally, the purchase of this parcel brings Mana to owning more than one million square feet of building and 8 acres of land in the urban core.
“Mana is near completion on his dowtown assembelage, wrapping up loose strings readying for the next phase of development,” Mattingly said. “Very soon, he will unveil his grand vision for a downtown that is strategically positioned to become the center of it all.”
The New Jersey and Miami-based developer has strategically partnered with Colliers’ broker Mika Mattingly in recent years to amass a portfolio of properties in the urban core of Downtown Miami. As one of the change-makers leading the renaissance on and around Flager Street, he plans to eventually 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 24-7 community.
The concept of the evolving urban core is one that the Colliers’ Urban Core Division knows well. The specialized division, co-led by Mika Mattingly, was launched with the purpose of better serving the dense, urban markets of South Florida, with a myriad of property types and ever-changing zoning and landscape.
“Each neighborhood is really its own eco-system and our team has a block-by-block approach to brokerage, rather than limiting to a single property type,” Mattingly added. “This extends a more whollistic view to servicing our clients’ real estate needs, especially with the rise of mixed-use properties.”