Moishe Mana buys Wynwood's Pastis building for $24.5M
Wynwood's largest landowner keeps buying, this time a fully leased corner anchored by a Parisian brasserie.
Moishe Mana, Wynwood’s largest landowner, paid $24.5 million for a single-story building at 380 Northwest 26th Street leased to the Parisian brasserie Pastis — deepening a portfolio that already dominates the Miami neighborhood.
Mana bought the 13,000-square-foot property from David Edelstein’s TriCap, or roughly $1,850 per square foot. Pastis Miami, which opened in 2023, anchors the building, with luxury lamp retailer Appartus slated to join. Tony Arellano and Devlin Marinoff of Dwntwn Realty Advisors brokered the deal.
Why it matters
The purchase shows Mana still expanding in Wynwood even after years of assembling land there, and buying stabilized, income-producing retail rather than raw development sites. A fully leased corner anchored by a marquee restaurant is a different bet than a teardown — a signal that Wynwood’s retail rents now support institutional pricing, not just land speculation. It is also Mana’s second deal with TriCap in seven months, after the two traded a 1.6-acre assemblage for $33.5 million in January.
The numbers
At $24.5 million for 13,000 square feet, the sale pencils near $1,850 per square foot — a premium reflecting the building’s full occupancy and Wynwood’s retail draw. Mana’s holdings include the Mana Wynwood Convention Center and a portfolio that a $150 million refinancing in 2025 spanned across 56 properties.
What’s next
Mana keeps both tenants in place, adding another cash-flowing asset to a Wynwood footprint few can match. The deal continues a run of capital chasing Wynwood’s retail and mixed-use blocks as the district matures from arts enclave to established commercial corridor.