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

Miami /
Jun.June 09, 2021 04:30 PM
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.

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.






    Related Articles

    arrow_forward_ios
    12350 Biscayne Boulevard and buyer Yoram Izhak (Google Maps)
    Johnson & Wales sells more North Miami properties for $21M
    Johnson & Wales sells more North Miami properties for $21M
    Renderings of the approved tower
    Lions Group NYC buys downtown Miami dev site to build apartment tower
    Lions Group NYC buys downtown Miami dev site to build apartment tower
    Coronado Towers in North Miami (Google Maps, Getty)
    North Miami condominium’s balconies deemed unsafe
    North Miami condominium’s balconies deemed unsafe
    The Johnson and Wales campus and PMG principals Kevin Maloney and Ryan Shear (PMG)
    PMG pays nearly $60M for Johnson & Wales North Miami campus
    PMG pays nearly $60M for Johnson & Wales North Miami campus
    The Johnson and Wales campus and PMG principals Kevin Maloney and Ryan Shear (PMG)
    PMG buying shuttered Johnson and Wales North Miami campus, planning redevelopment
    PMG buying shuttered Johnson and Wales North Miami campus, planning redevelopment
    An aerial of the proposed development site and warehouse with Sergio Rok and Jimmy Tate
    Neighbor sues to short-circuit Jimmy Tate and Sergio Rok’s no-bid North Miami project
    Neighbor sues to short-circuit Jimmy Tate and Sergio Rok’s no-bid North Miami project
    Arch Companies founders Jeffrey Simpson, Jared Chassen and Infinity's David Berg. (Google Maps, Infinity, Getty)
    Arch, Infinity JV to build mixed-use multifamily tower in Miami’s Edgewater
    Arch, Infinity JV to build mixed-use multifamily tower in Miami’s Edgewater
    Laurent Morali and renderings of the project (Kushner Companies)
    Kushner Companies wins approval for four-tower mixed-use project in downtown Fort Lauderdale
    Kushner Companies wins approval for four-tower mixed-use project in downtown Fort Lauderdale
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...