That’s a lot of slime: Toymaker drops $19M on waterfront Venetian Islands home

Seller built the home in 2015

Miami /
Jul.July 13, 2021 03:30 PM
The Miami Beach property was recently purchased by a toymaker who specializes in slime (Corcoran, Getty)

The Miami Beach property was recently purchased by a toymaker who specializes in slime (Corcoran, Getty)

A former executive at Time Warner sold his waterfront Venetian Islands home to the owner of a toy making business — whose products include slime kits — for $18.5 million.

Records show Paul T. Cappuccio sold the house at 27 East Dilido Drive in Miami Beach to Roshan Wijerama.

Cappuccio was EVP and general counsel at Time Warner from 2001 until AT&T bought the media conglomerate for a reported $85 billion in 2018. Cappuccio received a $26.7 million buyout, according to CNN. He is now vice chairman of DTX Company, a marketing firm in New York City, according to Bloomberg Law.

Wijerama is the owner and chairman of Warren, New Jersey-based Horizon Group USA. According to its website, the company is the nation’s leading supplier of craft components and activity kits, including its slime brand SlimyGloop. Its products are sold on Amazon, and at Target and Walmart, among other stores.

Records show Wijerama also owns a penthouse at 1 Hotel & Homes South Beach, which he bought in 2018 for $6.4 million.

Cappuccio purchased the recently sold property for $2.7 million in 2004, records show.

He originally listed the home in 2011 for $5 million. Records show Cappuccio filed to construct a new house on the property in 2014, and it was completed in 2015. The home was listed again in 2019 with a $15 million asking price. The most recent asking price was $20 million in June.

Julian Johnston of the Corcoran Group brokered the deal.

Property records show the 7,167-square-foot house has six bedrooms and seven-and-a-half bathrooms. The 13,408-square-foot lot includes a pool and private dock with a boat lift, according to the listing.

Sales on the Venetian Islands have been brisk in recent months. Most recently in June, “Full House” creator Jeff Franklin purchased a waterfront lot on the Venetian Islands for $35.5 million. In May, a former self-storage CEO sold a waterfront home for $18.4 million, and a Turkish aquaculture magnate sold a waterfront property for $6.3 million.





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