Studio 54 was a popular New York nightclub from 1977 until 1981 when it was sold by founders and creators Steve Rubell and Ian Schrager. It was called the most famous nightclub of all time and was a sophisticated, groundbreaking multi-media visual extravaganza. It continued to operate as a nightclub until 1991 by other owners. Located at 254 West 54th Street in Manhattan, New York City, the space was originally the Gallo Opera House, opening in 1927, after which it changed names several times, eventually becoming CBS radio and television Studio 52. Since November 1998 it has been a venue for the Roundabout Theatre Company and is still called Studio 54, but is no longer a nightclub. A separate restaurant and nightclub, called 54 Below, operates in the basement of the famed venue.