Legendary Hit Factory Studio Turning Into Condos
Wednesday, August 9, 2006
By: Kenny Rodriguez
The Hit Factory, one of New York's most prestigious recording studios, is being converted into a condominium complex after the edifice closed its doors last year.
In early 2005, the Manhattan building was closed due to increasing rent costs and a dwindling demand for the large-scale studio. The six-story building - which once housed seven recording studios and five mastering suites - was sold for $17.5 million, and a new Hit Factory was erected in Miami, Florida.
The original Hit Factory housed classic recordings by hip-hop artists Jay-Z (Vol. 2: Hard Knock Life), the Notorious BIG (Ready To Die), Mase (Harlem World), and Lil Kim (Hardcore) - as well as rock-n-roll and soul greats John Lennon, Stevie Wonder, Bruce Springsteen, Jimi Hendrix, Billy Joel, and Madonna.
In 1994, Hit Factory recordings received a combined 41 Grammy nominations - thanks in part to Whitney Houston's "The Bodyguard" soundtrack.
Later in 2000, the famed studio saw some short-lived negative press when G-Unit rapper 50 Cent was stabbed there, allegedly stemming from a dispute with former rival Ja Rule.
After builders construct the 27-unit condo complex, they plan on lining its hallways with platinum plaques and retaining ground-floor space for music rehearsals. The property opens early next year, and each condo apartment is projected to sell for $1 million to $4 million.
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