Moishe Mana Acquires Fort Lauderdale Office Tower for $89 Million at 21% Discount

Moishe Mana, a prominent South Florida developer, has acquired the 30-story 110 Tower office building in downtown Fort Lauderdale for $89 million. Located at 110 Southeast Sixth Street, the 777,248-square-foot property, constructed in 1987, stands adjacent to Broward County’s court building. City National Bank of Florida facilitated the acquisition with a $66.3 million loan.

This purchase represents a strategic expansion for Mana, who is widely recognized as a major landowner in Miami's Downtown and Wynwood neighborhoods. The transaction reflects a 21 percent decrease in value compared to the $112.9 million paid by the previous owner, Chicago-based GEM Realty Capital, in 2016. The slower recovery of the Broward County office market post-pandemic, relative to Miami-Dade and Palm Beach counties, likely contributed to the discounted sale.

The deal also fuels speculation about a potential 1031 exchange, linked to rumors of Mana divesting a significant portion of his Wynwood assets to Citadel billionaire Ken Griffin, though both parties have denied such a transaction. For developers and investors, this acquisition underscores the ongoing market adjustments in the Broward office sector and signals a notable investor's broadened regional focus.