Israeli Businessman Moishe Mana Closes Out 2014 With A $7.6 Million Bang
Israeli businessman Moishe Mana (pictured left) 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.
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.
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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