Colliers International South Florida executive vice president and broker Mika Mattingly helped Moishe Mana add the 48th property to his assemblage close to Flagler Street in downtown Miami.

Mattingly closed Mana's $9.27 million purchase of a 15,000-square-foot vacant parcel at 151 NE First Ave. from Miami-based Erie Corp. in a deal that closed Nov. 15.

Jay Chung of Weston-based Elijah Venture Corp. represented the seller.

The land will be used as part of Mana's planned downtown project, said Mattingly, who is based in Miami.

While Mana has yet to unveil specifics, this much is known: redevelopment will be a mixed-use project, including residential, office and retail, Mattingly said.

Mana has been buying up downtown properties for some time with other purchases, including 30 E. Flagler St. and the Biscayne Building at 19 W. Flagler St.

The properties aren't all adjacent but are within walking distance.

“Sort of like a monopoly board. He strategically bought the buildings so they are placed within walking distance,” said Mattingly, who has represented Mana on all but two of his downtown deals. “He is creating a community. He is creating a walking route.”

The value of Mana's downtown purchases total $334 million, Mattingly said.

The 151 NE First Ave. purchase breaks down to $618 per square foot, speaking to the competitive downtown land market where the price per square foot has been increasing by $100 a year for the past few years, Mattingly said.

That makes downtown an anomaly as land isn't trading in other areas, she added.

“Land is a difficult thing to sell right now unless it has something on it that makes money,” Mattingly said. In downtown, “there's healthy competition and there's little inventory left.”

Mana also has assembled property in Miami's Wynwood neighborhood where he is developing a sprawling mixed-use project with residences, offices, a cultural center and a trade center with partners from Asia and Latin America.

The Miami City Commission in September 2016 approved a special area plan for the project, which allows special zoning for projects bigger than nine acres where developers get wiggle room on how much they can build in exchange for a civic component such as a public park.

The downtown work has been on the back burner while the Wynwood efforts proceed.