Developer Moishe Mana has relisted a double lot on the Venetian Islands for $25 million, nearly triple the amount he spent to acquire the land over the past decade.
Mana, known for his extensive portfolios in downtown Miami, Wynwood, and Allapattah, is once again marketing the 0.6-acre property at 851 North Venetian Drive in Miami. The site, located on Biscayne Island—the westernmost of the Venetian Islands—is being offered for sale with the Corcoran Group’s Julian Johnston and Eric Kaufman.
Entities associated with Mana purchased the first lot for $3.3 million in 2013 and the second for $5.2 million in 2016. The two lots were subsequently combined into a single parcel. The property features 175 feet of water frontage and includes conceptual plans by architect Kobi Karp.
According to Johnston, Mana has periodically placed the site on the market over the years, but is currently focused on his other developments and is not interested in the challenges of constructing a new home himself. The property was previously listed at $30 million.
“We’ve seen an increase in sales volume for vacant land in recent months,” Johnston noted, referencing demand for waterfront single-family sites in Miami Beach and other luxury markets. He added that double lots on the Venetian Islands have become increasingly scarce.
Mana is recognized as the largest landowner in both Wynwood and the Flagler district of downtown Miami.
In September, he expanded his holdings with a $25.5 million acquisition of a development site in Wynwood. The month before, he secured a $150 million refinancing for 56 Wynwood properties surrounding his Mana Wynwood Convention Center at 318 Northwest 23rd Street.
Mana resides near Boca Raton.
Earlier this year, Jeff Franklin, creator of the sitcom “Full House,” sold his waterfront lot at 1232 South Venetian Way—also on Biscayne Island—for $10.3 million, according to the listing. Johnston represented that sale as well.
In September, Georgia businessman Tom Mooser sold his waterfront residence at 315 East Rivo Alto Drive for $14.3 million.
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