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New York’s theatrical landscape (and the history of nightlife) may be about to lose one of its most storied addresses. Studio 54, the former disco palace turned Broadway playhouse, could shutter within the next couple of years unless city planners step in with zoning relief to unlock critical funds for overdue renovations. That’s the warning from Roundabout Theatre Company, which operates the venue and has sounded the alarm about long‑standing structural issues that are hampering both productions and the theater’s financial viability.
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Built in 1927 as the Gallo Opera House and reincarnated in the ’70s as the epicenter of hedonistic disco culture, Studio 54 has served many roles over the last century, but for the last few decades it’s shone under Roundabout’s stewardship as one of Broadway’s largest stages. But the company says the venue has quirks that need to be addressed from renovations made during its nightclub era, including a flattened auditorium floor that wrecks traditional sightlines, no orchestra pit and a lighting control booth accessible only by ladder.
According to Crain's New York, Roundabout’s recent filing with the New York City Department of City Planning makes a blunt case: serious rehabilitation is needed if Studio 54 is to remain competitive with other Broadway houses. Proposed fixes would reclaim the space’s theatrical functionality with a raked seating layout, improved sightlines and a proper orchestra pit, but current zoning rules are blocking the essential funding mechanism for those upgrades. Typically, theaters under pressure can sell unused air rights (the potential to build extra square footage) to nearby developers as a way to bankroll renovations. But Studio 54’s air rights were effectively spent by a prior owner to allow for the construction of the adjacent Marc residential tower and, because the two buildings are on the same zoning lot, the city treats those rights as forever used up.
Roundabout is urging the city to grant new air rights to Studio 54 or broaden the rules governing air‑right transfers in the Theater District so that the venue can tap into a vital revenue stream. In its filing, the nonprofit also points out that the theater can’t benefit from bonuses typically awarded to expanding venues, because there’s no physical space on the lot to grow.
Without such changes, Roundabout says it would be unable to finance a comprehensive renovation and could be forced to close Studio 54. With Broadway already bearing the scars of pandemic closures and rising production costs, the potential loss of one of its largest houses would be another blow to the city’s performing‑arts ecosystem.
For now, the plea for zoning relief is in the hands of city planners and elected officials. Whether they can find a way to keep Studio 54 operational while satisfying developers, preservationists and neighborhood interests remains to be seen. But for theater lovers, the stakes couldn’t be higher: without action, one of Broadway’s most iconic venues could soon become history.