Bryce Whall, head chef at Finz Seafood and Grill restaurant, said he heard an ''almighty crack'' as the man landed and then a woman, apparently the man's wife, screaming.
Mr Whall was told the man attempted to slide down the balustrade after his brother successfully did.
Minus5 Ice Bar barman Jaffe Santos was just metres away when he heard a ''massive thump''.
''To my surprise, I just saw a man lying here with blood all over his head.''
The man's brother put him in the recovery position, Mr Santos said, but he did not move for about a minute.
''I was pretty scared by then.''
However, he recovered and by the time he was stretchered into the ambulance he was smiling, Mr Santos said.
Early on July 24, a 19-year-old Australian died from injuries he received after falling from a balcony on to a concrete car park at the Glebe Apartments.
He had been staying with friends at the hotel and had been drinking alcohol before the incident.
In 2009, a 25-year-old English backpacker fell about 10m to his death from the roof of Base Backpackers in Shotover St.
A 24-year-old Invercargill man fell to his death at the Glebe Apartments after gaining access to the courtyard and climbing to the roof in 2008.
His friends described him as ''quite intoxicated'' at the time.