Coral Gables theater scheduled for demolition

Sep.September 06, 2011 03:10 PM

Coral Gables’ New Theatre has been purchased by Henry and Peter Torres of Astor Development, and is scheduled for demolition January 2012, the Miami New Times reported. The 100-seat venue on Laguna Street has been the 25-year-old theater company’s home for the last 10 years but will soon be transformed into a mixed-use residential and retail property, said New Theatre board chairman Steve Eisenberg.

“They did confirm that everybody had to be out and that there wasn’t additional time that we could stay in the property, because it was indeed slated for demolition,” Eisenberg said. “We are trying to talk to them about other alternatives… either if they are aware of any other properties that they have, or ultimately to come back into whatever they ultimately build.”

Eisenberg said that the sale would not affect the theater’s season ticket holders. “We’re going to honor everybody’s subscriptions of course, and make sure that everybody gets their subscription season’s worth.” [Miami New Times]

Related Articles

Greystar’s Bob Faith, The Mile (Credit: BuzzBuzzHome)

Greystar sells The Mile apartments for $40M

6855 Sunrise Drive (Credit: Google Maps)

Financier drops $13M for waterfront Coral Gables estate

Liz Hogan and 21 Casuarina Concourse

The biggest piece of land in Gables Estates just hit the market for $50M

A rendering of CocoWalk (Credit: iStock)

Sweetgreen expanding to Florida with first locations in Miami

5400 Hammock Drive and Timbaland (Credit: Getty Images)

Timbaland drops $8M on Coral Gables mansion

506 Sunset Drive and Justise Winslow (Credit: Getty Images)

Justise Winslow scores Coral Gables home

 4601 Le Jeune Road, Jose Boschetti and Maurice Boschetti

Gables Residential sells dev site near Shops at Merrick Park

Office rents rise across SoFla

Here’s why office rents are going up in South Florida