North Miami studios, home to “Miami Vice” and “The Birdcage,” sells to developer that plans mixed-use project

Fuse Group plans more than 400 multifamily units

North Miami Studios and two productions, “The Birdcage” and “Miami Vice" (Getty)
North Miami Studios and two productions, “The Birdcage” and “Miami Vice" (Getty)

The production studios, once home to “The Birdcage,” “Miami Vice,” “Something About Mary” and a number of other films and television shows, sold to a developer that plans a mixed-use project, The Real Deal has learned.

An affiliate of Fuse Group Investment Companies paid $10.5 million for the 2.8-acre property at 12100 Northeast 16th Avenue in North Miami, property records show. Fuse Group, led by CEO Eyal Peretz, plans to create a town center with more than 400 multifamily units and an adaptive reuse of the studios, according to Tony Arellano and Devlin Marinoff of Dwntwn Realty Advisors, the brokers involved in the off-market sale.

The assemblage, known as Ivor Tors Studio, hit the market in 2017 for $15 million. It has more than 45,000 square feet of studio space. “Flipper” and “Striptease” were also filmed there.

Arellano and Marinoff said the deal closed within 15 days.

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The brokers said the developer plans a creative, neighborhood-driven project, possibly with a food and beverage component. The warehouse complex is along the northwest corner of Northeast 16th Avenue and Northeast 121st Street. Arellano called it a “dynamite location” that’s 10 to 15 minutes away from Miami.

Movie producer Ivan Tors founded the studios in the 1960s.

Records show Sylvan Adams, CEO of Montreal-based Iberville Developments, bought the property in 1990 for $1.4 million.

Fuse did not immediately respond to a request for comment.

A number of developers have targeted North Miami. The largest project in the works is SoLé Mia, a $4 billion, master-planned community on the southeast corner of Biscayne Boulevard and Northeast 151st Street. Development duo Turnberry Associates, led by Jackie Soffer, and the LeFrak Organization, led by Richard LeFrak, recently secured a construction loan for a portion of the project.