Toy titan Paul Solomon’s former Miami site smashes suburb record

Key points

• An off-the-plan apartment at the upcoming Nalu development in Miami has sold for $14.5 million, a new record for the suburb. The ground-floor unit is part of a $500 million project on the former beachfront site of a retro resort owned by Moose Toys executive chairman Paul Solomon.
• Solomon bought the site for $23.75 million in 2018 and sold it to Monaco Property Group in 2024 for $70 million.
• The tower is due for completion in late 2028, and remaining three-bedroom apartments start from $6.95 million.