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](https://floridayimby.com/wp-content/uploads/2021/06/Screen-Shot-2021-06-09-at-6.36.15-PM.png)
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](https://floridayimby.com/wp-content/uploads/2021/06/Screen-Shot-2021-06-09-at-6.35.24-PM.png)
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](https://floridayimby.com/wp-content/uploads/2021/06/Screen-Shot-2021-06-09-at-6.39.38-PM.png)
The movie lot was acquired by the Fuse Group, which developed Upper Buena Vista in Miami, FL
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