Mana’s purchase of 140 N. Miami Avenue for $7,750,000, a two-story, 25,375-square-foot property located at the SW corner of Miami Ave. and NE 2nd Street, is a strategic addition to his Downtown Miami portfolio.
The deal closed on Friday, January 30.
Mika Mattingly and Shai Ben-Ami of Sterling Equity Commercial represented Mana’s company, Jersey Art Holdings, in the purchase. Gabriel Simkin of Miami Land Group represented the seller, Brown Asset Two.
The property is close to All Aboard’s MiamiCentral station and just a few blocks north of Brickell City Centre.
Mana recently purchased Flagler Station, another strategic move, having purchased the old Woolworth building next door. Located at 48 E Flagler Street, Mana purchased the 113,742-square-foot property, which sits on a 24,600-square-foot parcel of land, for $20,000,000. The deal also included the purchase of the 47,339-square foot retail building at 76 E Flagler, which sits on a 24,000-square-foot lot. The purchase price was $15,000,000.
“When an aerial color-coded map of Mr. Mana’s downtown acquisitions is finally published, it will reveal and incredibly intuitive buying pattern,” commented Mattingly.
In total, Mana has now acquired 440,000 square feet of retail properties in Miami’s urban core.