Toymaker buys PH at 1 Hotel & Homes

Developer sold the unit for $2,500 psf

1 Hotel & Homes penthouse 1708
1 Hotel & Homes penthouse 1708

The CEO of a major toy and craft maker just dropped about $6.4 million on a penthouse at 1 Hotel & Homes South Beach.

Roshan Wijerama, CEO of Horizon Group USA, paid $2,500 per square foot for PH-1708 at 102 24th Street. The development was built by a joint venture between LeFrak and Starwood Capital Group.

Wijerama’s company, based in Warren, New Jersey, makes and sells DIY activity kits, toys and craft supplies. Walmart sells more than 1,500 of its products, according to its website.

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Wijerama’s three-bedroom, 2,543-square-foot unit at 1 Hotel & Homes features a nearly 400-square-foot terrace and was designed by New York designer Samuel Amoia.

Eva Bouhadana and Nicole Bouhadana of Beachfront Realty represented the buyer, and Tracy Galya of Douglas Elliman represented the developer.

The LeFrak-Starwood joint venture launched condo sales for the project in 2013 and completed the gut-renovation of the historic beachfront property in 2015. Dallas developer Joe Beard recently closed on a penthouse at 1 Hotel & Homes.