# Villa Valencia condos: resale prices and rental rules

> Source: https://bluebaybrokers.com/buildings/villa-valencia
> Publisher: BlueBay Brokers LLC, 1541 Brickell Ave #1201, Miami FL 33129 (Florida broker BK3411036)
> Figures read on: 2026-11-13
> Contact: Carolina Peña, broker, new developments, English or Spanish: WhatsApp or phone +1 786 326 8778, carolina@bluebaybrokers.com. Study written by Steve Gabison, broker.
> Plain-text copy of the page above for AI assistants and readers. Quote with attribution to BlueBay Brokers; each figure carries its own source and read date. Nothing here certifies that a short-term rental is legal at any address.

## The bet

Villa Valencia is a finished 39-residence boutique condominium in Coral Gables, and the number that decides it is $1,226 a foot: the best finished resale in the building this year (residence 802, $3.75M in September 2026), against $1,445 asked for residence 601 today. Owners who bought in 2022 have resold 14 to 24 percent higher. Buy on that record, not on the ask, and read the receivership file first.

## Absorption and timing

How many homes close each year in this building's price band and postcode, against how many it is about to deliver. No brochure answers this, and it governs both the resale and the developer's willingness to discount.

Units delivering 39 all at once, to the same buyer pool

Closings per year 79 trailing 12 months, 33134, same band

Years of supply 0.5 this building alone

Band closes at $931/sf median of real closings, not asks

| Band, 33134 | Closed / 12 mo | Median price | Median $/sf |
|---|---|---|---|
| $2M – $3M | 46 | $2,500,000 | $931 |
| $3M – $5M | 33 | $3,600,000 | $1,080 |

**A small building that holds its value**

Coral Gables' 33134 closed 79 homes between $2M and $5M in the last twelve months, almost all houses, so 39 residences are half a year of that flow. Condominiums at this level are scarce: eight are for sale in the whole postcode above $1.5M, and Villa Valencia has one. Inside the building, three residences closed in twelve months. Two were genuine resales: 403 bought at $2.5M in June 2022 and sold at $3.1M in April 2026, and 802 bought at $3.3M in August 2022 and sold at $3.75M in September 2026. That is the arm's-length record a new building rarely has.

## The market it lands in

Everything for sale in 33134 today against everything that actually sold there this past year. This is the pool your resale competes in.

Active inventory 193 homes listed across 33134

Sold, trailing year 422 recorded closings, every price

Months of supply 5.5 under 6 favours sellers, over 12 favours buyers

Asking vs sold $687/sf asked, against $651/sf actually paid

How to read the gap

Asking is an opinion, sold is a fact, and months of supply is your leverage. Do not compare this building to the postcode median, which mixes in stock built decades ago: the comparison that counts is the band below.

## What recent deliveries resell for

The only read-across that means anything here: condominiums in 33134 built from 2023 onward, people who bought new and took delivery, and what their units resell for now.

New stock resells at —/sf withheld, 1 resale this year

Movement since — across recently delivered buildings

This building asks $1,445/sf entry residences

Entry vs new stock — below zero means you buy new under resale

| Year of resale | Closings | Median $/sf |
|---|---|---|
| 2025 | 1 | withheld, 1 sale |
| 2026 | 1 | withheld, 1 sale |

Why a year can show no figure

Under 5 transactions a median is noise, so it is withheld. Recently delivered buildings are thin by nature, which is itself worth knowing before counting on a quick resale.

## The basis

What it asks per foot against what its band actually closes at. Comparing one preconstruction ask to another tells you nothing: both are price lists.

Asking

$1,445/sf

One residence for sale today, #601 at $3.7M ($1,445/sf) · 2,510 – 4,267 sf · two finished resales in 2026 closed at $1,085 and $1,226/sf

Band closes at $931/sf $2M – $3M, trailing 12 months

Listed here today 1 median $1,445/sf

**What it closes at, and why one sale is not comparable**

The two finished resales of 2026 closed at $1,085 a foot (403, 2,856 sf) and $1,226 (802, 3,058 sf). The third closing, 1201 at $3.2M in March 2026, works out to $750 a foot and must be left out: it is the receiver's unit, which the court filing describes as unfinished with no interior walls. Nearby newer condominiums sit in the same range: Biltmore Parc at 718 Valencia closed at $1,115 in February. Residence 601 asks $1,445, about 18 percent above the building's best finished resale. The association fee runs about $1.77 a foot a month on the current listings.

## On the MLS today

1 listing at this address is Active right now, pulled 2026-11-13. Leases are excluded: a monthly rent sitting in the price column wrecks any comparison. This is what a buyer can actually transact on today, as opposed to what a price list says.

| Unit | Bd/Ba | Interior | Asking | $/sf | HOA / mo | Days |
|---|---|---|---|---|---|---|
| [601](https://bluebaybrokers.com/listing?mls=A12074478) | 3/4 | 2,560 sf | $3,700,000 | $1,445 | $5,203 | 69 |

How to read this table

On new construction the MLS area is routinely the total rather than the interior, and it runs larger than the County's recorded figure, by 10 to 30 percent on the units already tested in this pipeline. Treat the $/sf column as the seller's own arithmetic and re-divide by the recorded area before comparing it with anything delivered.

## Photographs

The 24 photographs carried on MLS listing A12074478 at this address. On a building still under construction these are the developer's renders and the sales-gallery material, not the finished product.

**Photographs** © SEFMLS, displayed from the MLS under the same licence that permits display of the listing itself. Renders are the developer's own and are subject to change.

## Carry at delivery

What it costs to own before any income, on the smallest residence of 2,560 sf.

| HOA at $1.77/sf/month | −$54,374 |
|---|---|
| Property tax at 2.02% of $3,700,000 | −$74,740 |
| Insurance (HO-6), $3.60/sf | −$9,216 |
| Annual carry, before any income | −$138,330 |

**What the leases say, and what to read**

The rental policy is not published and the recorded declaration has not been read. The MLS shows 11 closed leases since 2022, all on annual-style terms: residence 604 (2,510 sf, three bedrooms) leased at $17,500 a month in March 2026, $210,000 a year, 5.7 percent gross on 601's ask. After the $138,330 of association fee, tax and insurance above, about $71,700 remains, 1.9 percent before vacancy and upkeep. Before signing, ask the association for its budget, its reserves, and the status of the receiver's claims and liens tied to the building, and have the title search cover them. The finished units trade cleanly; the open question is the cost the association may still carry.

## How it was built and sold

| Construction financing | Delivered, so construction is behind it. The developer is not: Location Ventures and 515 Valencia Partners are receivership companies in SEC v. Kapoor (S.D. Fla. 1:23-cv-24903), and the receiver held units 1201, 1202 and 1301 as unfinished shells in June 2025 (court filing DE 430). |
|---|---|
| Presold | Not disclosed |
| Delivery | Delivered in 2022. Bridge YearBuilt reads 2021-2022 on the finished units, the first MLS closings were in June 2022, and the building was reported about 95 percent sold at completion. |
| Developer | Location Ventures, founded by Rishi Kapoor, who pleaded guilty in May 2026 to money laundering and payroll tax evasion conspiracy (The Real Deal). The finished residences are owned by their buyers; the receivership concerns the developer's companies, its unsold units and the claims against them. |
| Rental policy | Rental policy not published; recorded declaration not read. MLS: 11 closed leases at the address since 2022, all annual-style terms at $13,000 to $20,000 a month |

## Recommendation

BlueBay Brokers · Villa Valencia

### Buy the record, negotiate the ask

A finished, well-located Coral Gables building whose owners have already made money on resale: 14 to 24 percent in about four years on the two that traded. Construction risk is gone and supply is thin.

Offer near the building's own finished closings, $1,100 to $1,250 a foot, not at $1,445. Get the association budget, the reserve study and a title search that covers the receivership claims before signing; residence 604, leased at $17,500, is the income case.

## Questions buyers ask

### Does Villa Valencia allow short-term rentals such as Airbnb?

Rental policy not published; recorded declaration not read. MLS: 11 closed leases at the address since 2022, all annual-style terms at $13,000 to $20,000 a month. Until the developer publishes it and the condominium declaration is recorded, nothing can be stated either way.

### What do residences at Villa Valencia cost?

One residence for sale today, #601 at $3.7M ($1,445/sf) · 2,510 – 4,267 sf · two finished resales in 2026 closed at $1,085 and $1,226/sf. The study above sets these figures against what actually closed nearby.

### When does Villa Valencia deliver?

Delivered in 2022. Bridge YearBuilt reads 2021-2022 on the finished units, the first MLS closings were in June 2022, and the building was reported about 95 percent sold at completion.

### Who is developing Villa Valencia?

Location Ventures, founded by Rishi Kapoor, who pleaded guilty in May 2026 to money laundering and payroll tax evasion conspiracy (The Real Deal). The finished residences are owned by their buyers; the receivership concerns the developer's companies, its unsold units and the claims against them.

### Who can I talk to about buying at Villa Valencia?

Carolina Peña, broker at BlueBay Brokers (Florida licence BK3288753), handles new developments, in English or Spanish: WhatsApp or phone +1 786 326 8778, carolina@bluebaybrokers.com. This study is independent, written by Steve Gabison, broker (BK3411036), from recorded County deeds and MLS closings.

## Want the rest of it?

I am Steve Gabison, a Florida broker, licence BK3411036. I wrote this page. New developments are Carolina Peña's desk at BlueBay Brokers, broker, licence BK3288753: she will send you what is behind it, in English or Spanish.

#### The full file

This page is the public read. The file adds the full closing record unit by unit, what resellers are asking against what they paid, the recorded rental language, and a rental underwriting on the specific line you are looking at. No charge.

#### On the purchase

You are buying a resale here, so the seller's side pays the co-broke and representation costs you nothing. I argue from the recorded closing prices above, including what the current owner actually paid and when.

#### Before anything else

The rental policy here is not published, so I will not sell you a management plan on it. I will get the recorded declaration language and tell you what is actually permitted. That has to be true before the rest matters.

## Read next

- [Ponce Park Coral Gables, Coral Gables, Delivering early 2028](https://bluebaybrokers.com/buildings/ponce-park-coral-gables)
- [CORA Merrick Park, Coral Gables, 2028](https://bluebaybrokers.com/buildings/cora-merrick-park)
- [Cassia, The Residences at Coral Gables, Coral Gables, Q1 2027](https://bluebaybrokers.com/buildings/cassia-coral-gables)
- [All the new-development studies](https://bluebaybrokers.com/new-developments)
- [Developer price vs resale on six delivered Miami condos](https://bluebaybrokers.com/developer-price-vs-resale-miami)
- [Buying preconstruction in Miami as a foreign buyer](https://bluebaybrokers.com/buy-preconstruction-miami-foreign-buyer)

## Sources

- [The Real Deal, Buyers at Rishi Kapoor's condo projects could get share of $4M in receivership funds (July 2026)](https://therealdeal.com/miami/2026/07/20/some-rishi-kapoor-condo-buyers-could-split-receivership-funds/)
- [Receiver's motion to employ a broker for Villa Valencia units, SEC v. Kapoor, DE 430 (June 2025)](https://ftp.kttlaw.com/LV/2025-0611_DE430_RecMotionVillaValenciaCondos.pdf)
- [PROFILEmiami, Location Ventures completes Villa Valencia in Coral Gables (July 2022)](https://profilemiamire.com/miamirealestate/2022/7/6/location-ventures-completes-luxury-condominium-villa-valencia-in-coral-gables)
- [Bisnow, SEC freezes assets of developer Rishi Kapoor](https://www.bisnow.com/news/south-florida/capital-markets/sec-freezes-assets-of-location-ventures-former-ceo-rishi-kapoor-as-part-of-lawsuit-122268)

**Method, licence and disclaimers**

**Absorption and closed prices** © 2026 Miami Association of Realtors / SEFMLS via Bridge Data Output, pulled 2026-11-13. Deemed reliable, not guaranteed.

**Developer data.** Unit counts, sizes, pricing and delivery dates are the developer's own and are not verified by BlueBay Brokers LLC, which does not represent the developers named here and receives no compensation from them.

**Not investment advice.** A scenario built from stated assumptions. Deposit carry uses simple interest and ignores tax. The recorded condominium documents govern every legal question raised here. Consult your own tax and legal advisers.

**Rental policy** as published by the developer and routinely amended before closing.