Moishe Mana Tightens Grip on Downtown Miami with $110M Acquisition of One Downtown

The largest private landowner in Downtown Miami, Moishe Mana, adds the 31-story One Downtown tower to his portfolio in a massive $110M office acquisition.

By: AXL Media

Published: Mar 6, 2026, 5:35 AM EST

Source: Bisnow

A Marquee Addition to the Mana Common Portfolio

The acquisition of One Downtown is more than a simple real estate trade; it is a strategic consolidation of office inventory in Miami’s urban core. The tower recently underwent a multi-million-dollar renovation, bringing modern amenities such as a rooftop terrace, a state-of-the-art fitness center, and high-end "spec suites" to the market. For Mana, the purchase represents a rare "move-in ready" Class A property that complements his long-term vision of transforming the Flagler District into a global tech and innovation hub. The building is currently approximately 75% occupied, providing both immediate cash flow and significant leasing upside.

The Pricing Paradox: A Strategic Discount?

Market analysts have noted that the $110 million price tag represents a roughly 14% discount from the property’s previous trade in 2018, when it sold for $127 million. This "discounted" entry point highlights the current volatility in the office sector, where even renovated Class A assets face pricing pressure due to higher interest rates and shifting work patterns. However, for Mana—who typically buys and holds for generational redevelopment—the lower basis provides a favorable foundation to attract high-profile tenants like Simpro Group, which recently established its North American headquarters in the building.

Synergy with the Flagler District Transformation

The timing of the acquisition aligns perfectly with the City of Miami’s ongoing Flagler District beautification project. As the city invests in streetscape improvements and pedestrian enhancements along Flagler Street, Mana is simultaneously activating his 80+ downtown buildings. One Downtown serves as a northern anchor for this revitalization, sitting just blocks away from other key Mana projects like the Nikola Tesla Innovation Hub. This coordinated effort between public infrastructure and private ownership is designed to pivot the area away from its historical "dilapidated" reputation toward a high-density, mixed-use environment.