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Review: Lively documentary ‘Studio 54’ captures the glory days of disco and decadence

Schrager, now one of the world’s leading hoteliers, kept a low profile during the Studio days, gladly ceding the limelight to pal Rubell. He publicly opens up here, reportedly for the first time, as we learn about the disco’s quick ascent (it was built in six weeks on the grand site of an old CBS broadcast studio — and former opera house — on West 54th Street); its star-studded, mob-scene opening; and events that, in late 1978, led the IRS to raid the mega-successful cash cow, uncovering drugs, cooked books and evidence of serious money skimming.