Location Ventures sells newly built mansion for $12M (Photos)

Location Ventures sold a spec mansion for $11.8 million it developed in the Ponce Davis neighborhood of Miami-Dade County.

Ponce Davis is an unincorporated area between Coral Gables and Pinecrest. Homes that aren’t on the water in this area rarely sell for over $10 million, but property prices have increased and this is new construction.

The 10,264-square-foot home at 8325 Cheryl Lane was sold by 8325 Cheryl Lane LLC, managed by Rishi Kapoor of Miami-based Location Ventures, to Tarigh Yusufi. Bank…

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