Villa Valencia Condos in Coral Gables has Officially Completed Construction and Sells Out at 95%

July 5, 2022

Four years in the process, the Villa Valencia luxury condo development by Rishi Kapoor’s Location Ventures has officially completed construction.

With $100 million in closings so far, Villa Valencia, a 13-story, 39-unit project at 501 to 525 Valencia Avenue in Coral Gables, is 95% sold out. There are only three units available, one of which is under contract, a $14.9 million penthouse, and two others with an average price of $4 million each.

According to Kapoor, founder and CEO of Location Ventures, the project’s sales averaged $1,100 per square foot, setting a record for that neighborhood.

According to Kapoor, the majority of the buyers are locals from Miami Beach, Key Biscayne, and Coral Gables. In addition, 20% were from New York, 5% from California, and 4% from Illinois, with 2% from Latin America.

The plot was purchased by the developer for $16 million in 2018, and sales of Villa Valencia began the following year.

Kapoor recognized that labor shortages and delays on the project were made worse by the pandemic, but he claimed that setting building cost locks before the pandemic helped him keep costs under control.

Residences

• Private foyer with elevator entry
• 10-foot ceilings in living spaces
• 10-foot exterior sliding doors
• 8-foot European wood interior doors with concealed hinges
• Exquisite porcelain floors
• Custom finished closets
• Most residences have outdoor terraces with summer kitchens
• Master bedroom suite with spacious bathroom and separate vanity area
• Two assigned parking spaces per residence
• EV-ready parking spaces available

Amenities

• Entertainment space with billiards and golf simulator
• Cucina featuring kitchen and full bar for entertaining that opens to the pool deck
• Library with outdoor terrace overlooking the park
• Grand building entrance with lobby lounge
• Covered garden and valet waiting area
• Tea room with kitchen and bar for entertaining
• Executive room with video conferencing
• 10,000 SF onsite park and garden with shade trees
• Dog park and dog run
• High-Speed WIFI in all Common Areas
• Bike Racks
• Pool Deck featuring two summer kitchens, spacious sunbed relaxation areas
• 78-foot resort-style pool with lap lane and waterfall
• State-of-the-art fitness facility with yoga, Pilates and weight training area
• Spa and wellness center with treatment room, hammam / steam room, his-and-her sauna, and hydrotherapy plunge pools

The Coral Gables City Commission approved Location Ventures’ proposals earlier this week for a second, bigger condo development at 1505 Ponce de Leon Boulevard. The site will be sold by a Florida East Coast Realty subsidiary to Location Ventures, which has plans to construct a 16-story, 87-unit condo structure.