Studio 54 is a Broadway theater and former nightclub at 254 West 54th Street in Midtown Manhattan, New York City, United States. Opened as the Gallo Opera House in 1927, it served as a CBS broadcast studio in the mid-20th century. The venue became a scene in 1977 when Steve Rubell and Ian Schrager opened Studio 54, a nightclub retaining much of th…Studio 54 is a Broadway theater and former nightclub at 254 West 54th Street in Midtown Manhattan, New York City, United States. Opened as the Gallo Opera House in 1927, it served as a CBS broadcast studio in the mid-20th century. The venue became a scene in 1977 when Steve Rubell and Ian Schrager opened Studio 54, a nightclub retaining much of the former theatrical and broadcasting fixtures. Roundabout Theatre Company renovated the space into a Broadway house in 1998.