Moishe Mana is continuing to assemble land in Allapattah, as he says he is prioritizing his downtown Miami and Wynwood developments.
Mana paid about $5 million for the industrial properties at 2300 to 2340 Northwest Seventh Avenue and 3100 Northwest Seventh Avenue in Miami’s Allapattah neighborhood, which is west of Wynwood and east of Miami International Airport. Property records show 4 M Vision Investments sold the parcels.
They include a 12,900-square-foot warehouse and a roughly 9,800-square-foot warehouse on land totaling nearly 1.5 acres.
Agustin Duarte of Re/Max 360 represented the seller. RESF broker Vince Lago, who is also the mayor of Coral Gables, represented Mana.
Duarte said the property at 2300 and 2340 Northwest Seventh Avenue was previously under contract for $5.7 million to a different buyer until the pandemic hit. It was relisted for sale at the start of this year.
Mana Properties said in a statement that Mana’s purchases were part of “long term speculation” with a 10- to 15-year timeline, and that Mana has no plans at this time to develop in Allapattah. Allapattah has attracted developers Robert Wennett, Lissette Calderon and Jorge Pérez, to name a few.
“Our immediate development efforts are focused on revitalizing the Flagler District and Wynwood neighborhoods, and our attention and resources are currently directed towards those projects,” according to the statement.
Mana recently paid $6.2 million for a development site at 634 Northwest 22nd Street in Allapattah, where he could eventually build an e-commerce logistics center. He also owns the former McArthur Dairy site at 2451 Northwest Seventh Avenue. The site is zoned T6-8-0, which allows for 150 units per acre.
Through a spokesperson, Mana previously said he is selling off his assets around the world to invest in Miami. He is the biggest private landowner in the Flagler district of downtown Miami and has started construction of his major mixed-use development. Mana also owns a large assemblage in Wynwood.