East Flagler Poised for Revival?
Also on Flagler, Israeli investor Moishe Mana has purchased another building, 38-44 E Flagler St and 41 SE 1st St. Sterling Equity Commercial’s Mika Mattingly (pictured), who repped him in the deal along with colleague Shai Ben-Ami, tells us that Moishe plans to be a part of the revitalization of this stretch of Flagler, just has he has been in Wynwood, where he also owns properties. In New York, he was similarly a pioneer in the Meatpacking District. Currently, he owns about 250k SF in Miami’s urban core.
The new owner, who closed on the last day of 2014, has no public plans for the property. The 33k SF building was the second Woolworth store in Florida, opening in August 1921. More recently, F.W. Woolworth Co leased it to Foot Locker until its closing. Last year, Miami-Dade commissioners approved a $13M improvement plan for Flagler Street, with the City of Miami matching the county’s contribution, and Downtown property and business owners ponying up $1M. Marcus & Millichap’s Ryan Shaw repped Woolworth in the deal.