In the ‘80s, Miami was the new Hollywood, California. Home to the filming of Miami Vice, Ace Ventura: Pet Detective, and Flipper, Greenwich Studios was a sprawling movie set in its heyday. Now, after being sold for $10.5 million, the site could make way for new housing developments.
The 2.78-acre site was erected in 1963 when most of the surrounding area was undeveloped. It reached its peak in the 1980s and 1990s when it was churning out multi-million-dollar films with stars like Jim Carrey, Cameron Diaz, and Will Smith.
The 45,000+ square foot studio sold for $10.5 million
The property was sold to the Fuse Group for $9.08 million more than it sold for in 1990. Per the Miami Herald, the property was being sold for $15 million in November 2017. While the studio will remain open, it’s speculated that operations will soon cease.
When Georgia implemented its movie studio tax incentive program, Greenwich Studios saw a massive decline. While the studio still hosted shows, movies, and other entertainment avenues on a smaller scale, it couldn’t live up to its success in the ‘80s and ‘90s.
An aerial view of the movie studio
The Fuse Group, which now owns the property, played an instrumental role in the development of the Sistrunk District in Fort Lauderdale. The Florida-based real estate firm manages both commercial, residential, and mixed-use properties.
The film studio is presently located at 12100 NE 16th Street Avenue in North Miami, FL, 33161. It is in a heavily residential area, so speculation is that the studio will soon make way for housing developments.
The movie lot was acquired by the Fuse Group, which developed Upper Buena Vista in Miami, FL
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