First published 26 Oct 2026, 4:30am
Moose Toys executive chairman Paul Solomon’s former retro resort is in line for a luxury upgrade
The former beachfront playground of Moose Toys titan Paul Solomon has struck gold again, with an off-the-plan apartment on the site offloaded for a cool $14.5 million.
The big-ticket deal for the ground-floor pad in the upcoming Nalu development at Miami has smashed the suburb’s home price record before a single brick has even been laid.
The $500m luxury project is rising on a 7,238 sqm parcel at 122-130 Marine Pde, formerly a retro 1970s resort owned by Solomon.
Solomon sold the beachfront parcel for $70m
He’s parlayed Moose Toys’ success into a lucrative property portfolio. The company’s Melbourne headquarter in 2015.
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The executive chairman and stepson of Moose Toys owner and billionaire Manny Sul, had renovated the original building and renamed it Nalu — Hawaiian for “wave” — before offloading the mega-site to the Monaco Property Group in 2024 for a whopping $70m.
Solomon, whose Melbourne-based company pulls in more than $1bn in annual revenue thanks to cult brands like Bluey and Shopkins, originally purchased the site for $23.75m in 2018.
Kollosche principal Michael Kollosche handled the sale for residence 101, which came within weeks of two other units in the development selling for $13.5m and $13.25m.
All three eclipsed Miami’s previous most expensive recorded sale of $10.8m set in 2025 for a two-storey penthouse nearby at 142 Marine Pde.
101/122 Marine Pde, Miami sold for $14.5m
The kitchen features Calacatta stone and high-end appliances. Pic: realestate.com.au
It’s set a staggering precedent for the tower, not due for completion until late-2028, with the third-floor sale representing less than half the asking price of the project’s $30m-plus penthouse, which is still up for grabs.
According to the listing details, the deep-pocketed buyer has secured a 381 sqm, three-bedroom apartment with an oceanfront balcony taking in direct views over Miami Beach, along with a home office, Gaggenau appliances, and four car spaces.
Mr Kollosche said the respone to the project had been “overwhelming”, coming against a backdrop of “caution in the current economic environment”.
“Buyers are becoming increasingly discerning. They’re taking more time to assess value, quality and long-term fundamentals, but when they identify something exceptional that cannot easily be replicated, they’re prepared to act decisively.”
The project targets wealthy downsizers. Pic: realestate.com.au
The apartments have three bedrooms and three bathrooms. Pic: Realestate.com.au
He said the development targeted buyers tired of the maintenance of their mega-mansions but not wanting to sacrifice lifestyle.
The six-storey building has 44 homes in total, with remaining three-bedroom apartments starting from $6.95m for a 293sq m floorplan.
Residents have access to more than 3,000sq m of amenities, including a bathhouse, pools, a private lounge, a golf simulator, and a dedicated concierge service.
The six-storey building has 44 apartments in total
An artist’s impression of the third-floor apartment sold for $13.5m. Pic: Realestate.com.au
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