Moishe Mana Buys Two More Downtown Miami Properties For $27M

Moishe Mana is expanding has property holdings in downtown Miami.

The two new properties that Mana has acquired are:

  • 41 East Flagler Street – a three-story, 60,398 square foot building dating from 1928. It sits on 21,750 square feet of land.
  • 62 Northeast First Street – a two-story, 32,060 square foot building dating from 1913. It sits on 15,000 square feet of land.

In total, the sales price for both properties was $27.2 million. They last sold in 2011 for $11.5 million.

Both properties were recorded on the same deed. The sale closed on May 26.

The sale was first reported by The Real Deal.

The First Street property is across the street from the Old United States Post Office and Courthouse, where Stambul has planned a multi-level dining and entertainment venue.

On Flagler Street, a construction project is underway to convert the street into a pedestrian friendly festival style road.

 

41 East Flagler Street:

62 Northeast First Street:

(photos: google street view)

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Anonymous
1 month ago

Sad to hear.

Anonymous
1 month ago

Let’s hope he doesn’t let these properties sit idle.
Mana – killing downtown progress years and years.

POLO
1 month ago

He will let the properties sit iddle, and then sale them when they quadruple in value, thus making a huge profit without lifting a finger.

Anonymous
1 month ago

To be fair to the guy….he has taken on risk and put money where his mouth is. He deserves SOME credit.

Realtalk Reilly
1 month ago

What’s the risk involved in buying property and doing nothing with it for years and years until it appreciates enough to make a sizable profit? In the short term, maybe, but in the long term Miami real estate is rarely a very risky investment.

Yeppers
1 month ago

Oh no

Anonymous
1 month ago

All the Santeros in Miami and no one can get rid of this Mana plague?

Anonymous
1 month ago

The Santeros are in Hialeah.

Anonymous
1 month ago

You obviously haven’t been to a Melo building.

Realtalk Reilly
1 month ago

…or as Henry II might say, will no Santero priest rid us of this meddlesome Mana?

Anonymous
1 month ago

Sigh…

Anonymous
1 month ago

Three cheers for more vacancies and blight !! Hip Hip Hooray !!!!!

Anonymous
1 month ago

Moishe Mañana strikes again!

Q Anonymous
1 month ago

sucks

Anonymous
1 month ago

Maybe one day (and this is just a dream) he will build in every property he owns all at once and shock us all. Big maybe but he’s like 60…he better step it up before he becomes senile.

Anonymous
1 month ago

Ban Mana

Anonymous
1 month ago

Can’t an injunction be filed to ban this man from owning anymore land in the city?!?! (Kidding…mostly), but for real any legal degals know how to exile a person from this great city?

Anonymous
1 month ago

It’s obvious he’s trying to kill downtown so he can depressor and values and buy more of the property

Anonymous
1 month ago

“It’s obvious he’s trying to kill downtown so he can depressor and values”

Wtf?

Realtalk Reilly
1 month ago

Uhhhh, yes? Which part of that didn’t you understand?

Like I mentioned in another comment, if you can hold it for the long term, real estate is almost always a safe investment, especially in Miami.

So yes, Mana can create dead spaces in the city to drive down neighboring property values in the short term, then snatch up more properties, then hold out for a few years until they all inevitably appreciate back up enough again to sell for a handsome profit.

That’s the REALTALK, baby!

Anonymous
1 month ago

Mana, killing Miami’s progress one building at the time!

Anonymous
1 month ago

What’s the latest with Stambul’s plans for the post office anyway

Anonymous
1 month ago

Is a border or something? Buy all you want but do something with them, stop piling up your garbage on Miami’s skyline and progress.

Anonymous
1 month ago

*hoarder (we need the editing back please!!)

Anonymous
1 month ago

Do you mean – “is he a hoarder or something?”

Anonymous
1 month ago

There go two more pieces of Miami history.

Anonymous
1 month ago

The buildings are trash. No architectural significance. Just because it’s old doesn’t mean it should be salvaged.

Anonymous
1 month ago

Jackson Byrons

David
1 month ago

By doing whatever the heck he is doing this guy has become a billionaire. He’s making tons of money without lifting a finger. Wouldn’t you do the same if you could??

Anonymous
1 month ago

As a slumlord, hopefully he’s not going to insensitively renovate these historic properties into Apple Store knockoffs, like some of his other properties are shown in his “grand” plan. Conversely, I worry about demolition by neglect. The former Lerner Shops between the other F.W. Woolworth and Burdine’s and been vacant for over a decade.

Anonymous
1 month ago

Great this bum ass slum lord is going to hold half of downtown hostage

Anonymous
1 month ago

I hope the whales (www.schoolofwhales.com) get involved on this one and get it done, looks like their sweet spot

Realtalk Reilly
1 month ago

If I ever go to the doctor and am told I have a terminable disease, I know what I’m going to do.

I just made that comment in this thread for no reason in particular, don’t read too much into it.

Realtalk Reilly
1 month ago

I meant to say terminal, not terminable. I also meant to say on this article, not in this thread.