Moishe Mana Pays $74M for Downtown Miami Office Tower
By Julia Echikson May 22, 2023 6:54 pm
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Moishe Mana has bought yet another property in Downtown Miami. The Miami-based developer paid $73.6 million for the Museum Tower office building, according to Traded.
Located just east of Interstate 95 at 150 West Flagler Street, the 243,825-square-foot tower was completed in 1983. Today, the complex is 92 percent leased, per Traded, with Bank of America operating a retail branch on the ground floor.
Starwood Mortgage Capital provided an acquisition loan in the deal, per the Traded post. The seller, Bridge Investment Group, bought the 28-story property for $64 million in 2019, property records show.
Representatives for Mana and Bridge Investment Group did not immediately respond to requests for comment, while a spokesperson for Starwood declined to comment.
Mana is the largest property owner in Downtown Miami, owning over 70 buildings in and around Flagler Street with plans to transform the area into a business campus.
The centerpiece of the redevelopment — the Nikola Tesla Innovation Hub, a 13-story office complex at 155 S Miami Avenue — remains under construction.
Julia Echikson can be reached at jechikson@commercialobserver.com.
