Moishe Mana Pays $7.6 Million For Former Downtown Woolworths Store

Moishe Mana continues to accumulate property in downtown Miami:

Israeli Businessman Moishe Mana Closes Out 2014 With A $7.6 Million Bang

Israeli businessman Moishe Mana has purchased another building on Flagler Street, adding to his Flagler Street Assemblage.

Mika Mattingly and Shai Ben-Ami of Sterling Equity Commercial represented Mana’s company, Jersey Art Holdings, in the purchase of 38-44 East Flagler Street and 41 SE 1st Street.

The building totaling 33,152 square feet was the second Woolworth store in Florida, which opened in August 1921. The building was leased to Foot Locker until its closing.

The property was purchased for $7,600,000. The deal closed on Wednesday, December 31st.

Ryan Shaw of Marcus and Millichap represented the seller F.W. Woolworth Co. in the transaction.

“Mana’s appetite and vision for Flagler Street remains robust. His passion to re-ignite Miami’s “main street” to its former glory fuels his flame,“ stated Mattingly.

In total Mana has acquired 250,000 square feet of retail in Miami’s urban core.

In 2014, Miami-Dade commissioners approved funding for a $13 million improvement plan for Flagler Street, with the City of Miami matching the county’s contribution and downtown property and business owners covering the remaining $1 million.