Moishe Mana, Downtown Miami's largest landowner with more than 80 buildings to his name, has made his first venture into Broward County, paying $89M for the 394K SF office tower at 110 SE Sixth St. in Fort Lauderdale, according to property records provided by Vizzda. The deal matters because it signals a major Miami-based investor extending beyond his core geography into a neighboring office market, even as the seller took a substantial loss on the asset. The transaction also provides a concrete data point on how Fort Lauderdale office pricing has shifted since the mid-2010s.
The seller, Gem Realty Capital, had paid $112.9M for the property, known as 110 Tower, in 2016, meaning the $89M sale represents a price cut of roughly $23.9M from the prior acquisition. Mana financed the purchase with two loans totaling $66M from City National Bank of Florida. The 30-story tower was built in 1987 and renovated in 2015, and it had up to 9,280 SF available for lease at the time of the report, according to a Colliers listing. The building's age and renovation history are material to understanding the pricing, as the asset is nearly four decades old despite a relatively recent capital improvement cycle.
The evidence comes from a single full-text Bisnow report dated September 28, 2026, which draws on property records provided by Vizzda and a Colliers listing. The source is a secondary trade publication, and the dossier does not include independent confirmation from Mana, Gem Realty Capital, or City National Bank of Florida. The report also covers other South Florida transactions, including a Palm Beach resort sale to Fort Partners for $112.6M in recorded value, a Boca Raton office tower sale to Thor Equities for $62M, and a Doral warehouse sale for $29.5M. Those deals provide context but are not directly tied to the Mana acquisition.
The transaction has implications for the South Florida office sector. A $89M price for a 394K SF tower implies a per-square-foot valuation of approximately $226, though the dossier does not state this figure and it should be treated as a derived calculation rather than a reported fact. The seller's willingness to accept a price below its 2016 basis suggests that Fort Lauderdale office values have not recovered to mid-2010s levels for this asset class, even as other South Florida commercial segments, such as luxury retail and industrial, have seen active deal flow. Mana's entry into Broward County could also foreshadow further expansion by Miami-based investors seeking relative value outside the more competitive Downtown Miami market.
Several limitations constrain this analysis. The dossier does not disclose the building's occupancy rate, rental income, or net operating income, making it impossible to assess the capitalization rate or whether the $89M price reflects distress or strategic repositioning. The financing terms beyond the $66M loan total are not provided, and the source does not include commentary from Mana or the seller explaining the transaction rationale. Additionally, the evidence level is single full text, meaning all conclusions rest on one secondary source. What to watch is whether Mana pursues additional Broward County acquisitions, whether the 110 Tower's leasing performance improves under new ownership, and whether other Fort Lauderdale office sellers face similar price reductions relative to pre-pandemic purchase prices.