Moishe Mana Acquires One Downtown Office Tower In Miami For $110 Million
1 Southeast 3rd Avenue
$110,000,000
$244/SF
Building Size
450,000 SF
Asset Type
Office
Closing
Mar 4, 2026
About this deal
AI
Moishe Mana acquired the 31-story, 450,000-square-foot Class A office tower One Downtown located at 1 Southeast 3rd Avenue in Miami for $110 million. The asset is a renovated former SunTrust International Center, and it is positioned as a modern office hub near the Central Business District.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $110,000,000
- Square Footage: 450,000
- Address: 1 Southeast 3rd Avenue
- Market: Miami
- Price per Square Foot: $244
- Buyer: Moishe Mana - Mana Common
- Brokers: Christian Lee, Sean Kelly, Tom Rappa & Matthew Lee - CBRE
The renovated building will be leased by TCRE and is part of Mana’s broader redevelopment and public realm investment strategy in the Flagler District, expanding his holdings in the area.
On the Map
$110,000,000
$244/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93