"Get these f***ing people off the f***ing street," he yelled at police.
People at the cordon said the man was known at the City Mission. One woman had seen him at 3pm and said he seemed fine then.
"Come down, just climb down," she yelled to him.
"Come down and get some help."
The man began to climb down at about 8.45pm but stalled half way, appearing unable to go further. Fire Service staff then raised a ladder with a negotiator and after about 20 minutes of speaking to the man he agreed to come down.
Cordons were put in place around the attraction, motorists and pedestrians told to avoid the area and all traffic including buses diverted.
The owner of the Sky Screamer bungy, who refused to be named, said she was not allowed to access the scene because of the cordons.
"It's terrible. It's a terrible thing to happen. He must obviously have a very bad problem. I hope it's a good conclusion and he doesn't hurt himself."
She said the business had been at its Victoria St site for 17 years, and an incident like last night's had never happened there before.
The site was secure and had CCTV cameras. Access to the base of the bungy towers, where a ladder was also kept for maintenance purposes, was also cordoned off, with a sign showing members of the public were not to enter, she said.
The owner added she would "definitely" look into putting a fence around the tower bases for extra security.
Police said two other people were arrested during the incident on charges of breaching the peace.
