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Tuesday, June 29, 2021

Former CityArts building on Orange Avenue downtown snapped up for $5 million

Posted By on Tue, Jun 29, 2021 at 12:48 PM

click image PHOTO COURTESY DOWNTOWN ARTS DISTRICT
  • Photo courtesy Downtown Arts District

The former CityArts Factory building in downtown Orlando has been sold to a New York company (cue "New York City!" from the old Pace Picante commercial), and it's anyone's guess what's coming next.

According to the Orlando Business Journal, after six months on the market the building was sold to New York-based Positively Pine Street LP for a cool $5 million.



At the time of the sale, SAK Comedy Lab was the only tenant making use of any part of the building. No plans for the space have been announced yet by the new owners.

The building at 29 S. Orange Ave. — a very well-positioned chunk of downtown real estate built in 1917 — was the former home of CityArts and the Downtown Arts District, before they decamped down the street to 39 S. Magnolia Ave. in 2019 to take over the historic Rogers Kiene Building, then known as the Gallery at Avalon Island.

The last time the Orange Avenue property sold was for $1 million in August 1993, also per OBJ.



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