Location Ventures developer Rishi Kapoor sold a spec mansion in Coral Gables to a financial executive from New York.
Property records show Tarigh Yusufi, who works at New York-based Steadfast Capital Management, paid $11.8 million for the six-bedroom, 10,264-square-foot home at 8325 Cheryl Lane.
The non-waterfront home hit the market in 2019 before it was completed for $11.9 million, but the price was raised last year to $13 million.
Jorge Uribe with One Sotheby’s International Realty represented the sellers, while Ian Krawiecki Gazes of Compass represented the buyer.
Designed by Cesar Molina of CMA Design Studio, the two-story mansion includes six bedrooms, seven bathrooms and three half-bathrooms. The home also features a wine room, a lap pool, gym and a garage that fits up to eight cars, according to the listing.
A Location Ventures affiliate paid $1.8 million for the Ponce Davis property in 2016.
This month, Kapoor’s company paid $20 million for two commercial buildings in Miami Beach.