Well, here's the real story. Studio 54 was a TV studio, used primarily for What's My Line? during the 50s up to the early 60s, when it was moved to the Ed Sullivan Theater, now home to David Letterman. It fell into disrepair until it was turned into a disco (THE disco) in 1977. As to the DS studio at 433 W. 53rd Street, it is now home to The Montel Williams Show.