Moishe Mana Continues Downtown Miami Pursuit

Moishe Mana Continues Downtown Miami Pursuit

55-NE-1st-Street-Miami

Mika Mattingly

Mika Mattingly

Mika Mattingly and Shai Ben-Ami of Sterling Equity Commercial represented Moishe Mana’s company, Jersey Art Holdings, as well as the Seller, Aaron Realty, in the purchase of 55 NE 1st Street for $7,300,000.

The purchase adds another 27,000 square feet to Mana’s downtown assemblage.  In total, Mana has acquired over 240,000 square feet of retail in Miami’s urban core.

The 1950’s-built retail building was constructed as an addition to the Historic Post Office, an elegant, limestone-clad structure in a classically-inspired Italianate style, and one of the earliest grand buildings erected in the city.

55 NE 1st Street wraps around the Post Office on both NE 1st Street and NE 1st Ave.

The deal closed on Tuesday, September 23.

Mattingly represented the buyer, developer Daniel Pena-Giraldi of Stambul Ventures, in the purchase of the Historic Post Office in June.  The 34,455-square-foot building, located at 100 NE 1st Ave. in Downtown Miami, was purchased from a joint venture formed by Scott Robins and Tom Morgan.  Robins’ group purchased the property about a decade ago, with plans to convert it to condos.

Pena-Giraldi plans to renovate the property.

 

Source: CRE-sources

Leave a Comment