Market America CEO buys One Thousand Museum penthouse for $19M

Ridingers live in waterfront 2-acre estate in Miami Beach

Miami /
Dec.December 17, 2021 01:31 PM

JR Ridinger, founder, chairman and CEO of Market America, Inc. in front of the One Thousand Museum (Getty Images, One Thousand Museum)

Market America’s founder and CEO James Ridinger and his wife, Loren, picked up a penthouse at the luxury One Thousand Museum condo tower in Miami.

Property records show the developers of the Zaha Hadid-designed building at 1000 Biscayne Boulevard sold unit 5101/5102 to Miracle Museum LLC. The entity is led by Ridinger and lists his Miami Beach address.

The full-floor unit sold for $18.5 million, marking one of the most expensive sales in the 60-story, 84-unit tower. It has five bedrooms, six bathrooms, one half-bath and spans about 10,338 square feet, according to the listing.

It was on the market for $19.5 million. Seth Semilof of HL Real Estate Group represented the buyer.

Market America is a multi-level marketing company based in Greensboro, North Carolina. Ridinger, a former Amway distributor, and his wife founded the company in 1992. They live in a waterfront estate spread across 2 acres on North Bay Road in Miami Beach.

One Thousand Museum was developed by a partnership led by Louis Birdman, Kevin Venger, Gregg Covin, Gilberto Bomeny and Todd Michael Glaser. The building, completed in 2019, is nearly sold out and the developers recently paid off their $90 million condo inventory loan.

One Sotheby’s International Realty leads developer sales of the project. The downtown Miami building features a spa, aquatic center and rooftop helipad.

Unit owners and residents include David and Victoria Beckham, hospitality mogul David Grutman and others.





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