Moishe Mana’s Mana Common has added to their Downtown Miami portfolio with the acquisition of a development site located at 49 NW 1st St. for $12.375 million. The 22,500 SF site is currently a parking lot. Colliers' Executive Managing Director Mika Mattingly represented both sides of the transaction.
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'Le Rouge Lounge' Cabaret-Themed Nightclub Opens At Moishe Mana's Mana Wynwood Campus
Le Rouge Lounge, a new luxury, cabaret-themed nightclub, opened June 11 at a new event venue in Moishe Mana’s six acre Mana Wynwood campus. Mana Wynwood’s new event venue , which is located across from the Mana Wynwood Convention Center, is a French-inspired live entertainment venue.
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Moishe Mana Gets $20.13 Million Loan To Build Mana Wynwood Americas-Asia Trade Center & International Financial Center
Moishe Mana has secured a $20.13 million construction loan to build Mana Wynwood Americas-Asia Trade Center & International Financial Center. The financing was provided by Centennial Bank to Malux Realty, Malka Realty and Mizrachi Holdings for properties at 2337 Northwest Fifth Avenue, 375 Northwest 23rd Street, 394 Northwest 24th Street and 382 Northwest 24th Street.
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Moshie Mana Expects To Break Ground In Wynwood In Early 2018
Moshie Mana expects to break ground and begin construction on his Wynwood development site within the next 3 months to show the city of Miami that he means business. Mana plans to build the Americas-Asia Trade Center & International Financial Center (TCIFC) where phase 1 of the project will include developing 4.68 million SF
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Mana to Bring New Mixed-Use Tower Including Hotel to Downtown
Moishe Mana has made a deal with the City of Miami to construct a mixed-use tower at his 240 N Miami Avenue Downtown site. The deal will allow him to use a section of the much larger Miami Parking Authority property adjacent to his 14,000 SF. The MPA had originally given the rights to the land to Grand Station, who subsequently subleased the rights to Mana. Mana's proposal will be a mixed use building including a 150-room hotel office space, residential units, retail space.
Photo via Haaretz.com
Mana Fights Back Against Wynwood Business Improvement District Allegations
Mana fought back against the Wynwood Business Improvement District over allegations that they were cutting close to $30 million in public benefits from their Wynwood project. They saw they will still provide $45 million of public benefits with few changes to their original proposal. They were cutting a $10 million cash payment to the commission that was in exchange for a height increase to 24 stories. They will still provide $7.5 million to the Overtown CRA and $2.5 million to the commission. They also fought back about claims that they would be changing the phases of the project and were sticking to their original plan.
Public Benefits As Per Mana:
The Mana Wynwood SAP will grow the arts and design community while preserving the community’s unique character. Beyond residences and commercial buildings, the Mana Wynwood SAP includes more than $45 million in public benefits to the Wynwood neighborhood and surrounding communities. The breakdown of public benefits and contributions includes nearly $7 million to the Overtown CRA, $5.5 million annually to the Omni CRA through tax increment funds, and $35 million to the Wynwood community — including $2.5 million in cash for bonus height to the Wynwood BID.
Benefits to the Wynwood community include:
- Nearly 2.5 acres of centralized, public open space — the Mana Commons.
- A unified and vibrant streetscape for an enhanced pedestrian experience within the SAP and bordering streets.
- Extensive road improvements, including drainage and road rehabilitation.
- A newly constructed fire station and rescue facility for the City of Miami.
- Renovated and upgraded infrastructure serving the SAP Area and Wynwood, including drainage, sewer, fire services, and water mains.
- Underground or relocated overhead FP&L power lines.
- A public transit stop, which will contain bicycle racks.