Israeli Businessman Moishe Mana Adds 21,000 SF To Flagler Street Portfolio

Israeli businessman Moishe Mana has purchased another building on Flagler Street, adding to his Flagler Street Assemblage.  In total Mana has acquired 200,000 square feet of retail in Miami’s urban core.
Mika Mattingly and Shai Ben-Ami of Sterling Equity Commercial represented Mana’s company, Jersey Art Holdings as well as the Seller, Nine East Flagler, in the purchase of 17 East Flagler Street for $4.5 million.
Flagler Jewelry CenterThe 1938-built building totaling 21,000 square was the Former W.T.Grant Store and, at one time, was the highest-grossing store in the chain. Now dubbed the ‘Flagler Jewelry Center,’ this  historic building is reminiscent  of downtown shopping districts from another era, featuring a smaller, classical version of an interior mall, known as an arcade.
The deal closed on Monday, September 15.
“Mana invests all over the world, drawn to value-added properties. Mana envisions Flagler Street returning to its former grandeur. It just takes one person with a vision to ignite the process, and Moishe Mana is that person“ stated Mattingly.
Miami-Dade commissioners recently 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.
Ben-Ami and Mattingly are both members of the Commercial Industrial Association of South Florida (CIASF).
CIASF is a non-profit organization of business leaders involved in the development, design, construction, sales, and leasing of Industrial and Commercial Real Estate in South Florida.  The association hosts events each month covering a wide range of topics including the Industrial Market Report in January and the Office Market Report in May, its signature events.
 

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