Coral Gables theater scheduled for demolition

Miami /
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

arrow_forward_ios
From left: MHCommercial Real Estate Fund II's Jordan Paul, Dung Lam and Neil Merin along with the Yamato Office Center in Boca Raton and the Bridge Point Powerline Road in Pompano Beach (NAI Global, LoopNet, Getty Images)
Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
Jeff Bezos and his parents, Jackie and Mike Bezos, with 9501 Journeys End Lane (Douglas Friedman, Getty)
Jeff Bezos’ parents close on second Coral Gables mansion for $44M
Jeff Bezos’ parents close on second Coral Gables mansion for $44M
Allen and Spencer Morris, a rendering of the Ponce Park Residences, Mayor Vince Lago and Commissioner Rhonda Anderson (Oppenheim Architecture, Alan Morris, City of Coral Gables)
Coral Gables commission gives Allen Morris another chance for Ponce Circle project
Coral Gables commission gives Allen Morris another chance for Ponce Circle project
Jeff Bezos and his parents, Jackie and Mike Bezos, with 9475 Journeys End Road (Douglas Elliman Realty, Illustration by The Real Deal with Getty)
Jeff Bezos’ parents tied to $34M purchase of waterfront Coral Gables mansion
Jeff Bezos’ parents tied to $34M purchase of waterfront Coral Gables mansion
Asia PH on Brickell Key (Fortune International Realty, Illustration by Priyanka Modi for The Real Deal with Getty)
Asia PH on Brickell Key tops Miami-Dade’s weekly condo sales
Asia PH on Brickell Key tops Miami-Dade’s weekly condo sales
Oceana Bal Harbour
Oceana Bal Harbour closing tops Miami-Dade’s weekly condo sales
Oceana Bal Harbour closing tops Miami-Dade’s weekly condo sales
Plaza 100 building and the Brickell Arch office tower (JLL, Brickell Arch, iStock)
Lease roundup: Ritz Carlton’s yacht service leases in Fort Lauderdale, Hermès at 150 Alhambra
Lease roundup: Ritz Carlton’s yacht service leases in Fort Lauderdale, Hermès at 150 Alhambra
Rendering of Villa Valencia and Location Ventures' Rishi Kapoor (Location Ventures)
Location Ventures completes Villa Valencia condo project in Coral Gables
Location Ventures completes Villa Valencia condo project in Coral Gables
arrow_forward_ios

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

Loading...