Downtown Miami’s largest landowner Moishe Mana just made his portfolio even bigger, adding $33 million worth of properties within 10 days.
Mana’s firm, Mana Common, paid $20.3 million for the 35,550-square-foot Historic U.S. Post Office Building at 100 Northeast First Avenue and the adjacent 15,000-square-foot development site at 54 Northeast Second Street, according to a broker’s news release.
The firm spent $12.6 million on July 21 buying 23 commercial condos on the first two floors of One Flagler at 14 Northeast First Avenue, where First American Bank operates on the ground floor. The price amounts to $548,000 per unit.
Affiliates of Miami-based Stambul Construction led by Luis Rojas and Daniel Peña, sold the post office and development site, and an LLC managed by Danny Levy in Miami sold the office condos at One Flagler.
Gridline Properties’ Mateo Romero and Alfredo Riascos represented the seller for the post office and development site, and Mika Mattingly and Cecilia Estevez from Colliers worked with Mana. Colliers’ Mika Mattingly, Bradley Arendt and Cecilia Estevez represented both sides of the One Flagler deal.
Both deals represented value gains. Records show the post office and vacant site last sold for $11 million in 2014, and the commercial condos traded for $10.1 million in 2015.
Built in 1917, the five-story post office sits on a 9,330-square-foot lot where a brewery previously operated. Mana owns a neighboring building at 59 Northeast First Street.
One Flagler was completed in 1952 and spans 143,000 square feet across 15 stories, with an average floor size of 15,600 square feet. The property was converted to office condos in 2014 and has multiple owners.
Mana reigns over downtown Miami, with more than 80 buildings under his belt. One of his most recent purchases in the neighborhood was the One Downtown office tower in March for $110 million.
Earlier this month, he bought the Wynwood building at 380 Northwest 26th Street — which is leased to the New York-based French brasserie Pastis Miami for $24.5 million.
Mana is also one of the top landowners in Wynwood, and last year he snagged a $150 million refinancing for 56 properties in the arts district, including buildings surrounding his Mana Wynwood Convention Center at 318 Northwest 23rd Street, which was not part of the refinancing.
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