{"id":3113,"date":"2019-01-01T20:43:00","date_gmt":"2019-01-01T20:43:00","guid":{"rendered":"https:\/\/location.ventures\/?p=3113"},"modified":"2020-04-24T20:44:36","modified_gmt":"2020-04-24T20:44:36","slug":"villa-valencia-in-the-real-deal","status":"publish","type":"post","link":"https:\/\/location.ventures\/news\/villa-valencia-in-the-real-deal\/","title":{"rendered":"Villa Valencia in The Real Deal"},"content":{"rendered":"\n
Location Ventures<\/a>‘ project Villa Valencia was featured in The Real Deal article titled “Boutique condo in Coral Gables launches sales” “Developer Rishi Kapoor is launching sales of a boutique condo building in Coral Gables, planning to target buyers downsizing from homes in the Gables, South Miami, Coconut Grove and Pinecrest.<\/p>\n\n\n\n Kapoor, CEO of Location Ventures, hired One Sotheby\u2019s International Realty to handle sales of the 13-story, 39-unit development called Villa Valencia. His company paid $16 million<\/a> last year for the site at 515 Valencia Avenue, which held low-rise apartment buildings from the 1950s.<\/p>\n\n\n\n The Coconut Grove-based real estate firm has a $45 million construction loan commitment from an undisclosed lender and plans to break ground in May with a two-year construction timeline, Kapoor said.<\/p>\n\n\n\n Units will range from 2,800 square feet to 3,276 square feet with three to four bedrooms, priced from $1.65 million. Two five-bedroom lower penthouses with 4,211 square feet or 4,267 square feet will be priced at about $5.5 million, and an upper penthouse with nearly 6,300 square feet and a 4,600-square-foot terrace and pool will be listed for $10.5 million.<\/p>\n\n\n\n It has an anticipated $111 million sellout, Kapoor said, and buyers are required to put at least 50 percent down.<\/p>\n\n\n\n Kapoor said he isn\u2019t concerned with launching during a condo market slowdown because he\u2019s targeting buyers who are making a lifestyle decision. \u201cI wouldn\u2019t want to be launching sales on a Brickell condo or Sunny Isles condo right now, but in Coral Gables we feel very good that this is the time,\u201d he said. \u201cThere\u2019s no competition as far as we\u2019re concerned.\u201d<\/p>\n\n\n\n
From the article:<\/p>\n\n\n\n