Lors d'une sévère perquisition la nuit du 31 décembre 1979, révélant une fraude fiscale chiffrée à 2,5 millions de dollars de l'époque et la distribution de toutes sortes de drogues au personnel et aux clients, Rubell et Schrager furent arrêtés et contraints à la fermeture. Cela mettait fin aux 33 mois les plus déments de l'Histoire.

 

On retrouvera plus tard plus de 750 000 $ en liquide et une importante quantité de cocaïne à l'intérieur des murs du Studio. Ils furent néanmoins autorisés à organiser une dernière soirée d'adieu appelée"The End of Modern-day Gomorrah"le 4 février 1980. Le studio fut racheté pour 4,5 millions de dollars par le propriétaire de restaurants et dancings Mark Fleischman et fut rouvert le 12 septembre 1981. 

 

Cependant, l'âme du Studio 54 s'était évaporée et le succès n'était plus au rendez-vous. Il ferma définitivement ses portes en 1986. Il rouvrit brièvement en 1994 après une rénovation qui coûta plusieurs millions de dollars.Cette discothèque est devenue un véritable modèle pour toutes les grandes discothèques du monde qui ont suivi. Le mélange des stars et des anonymes, le cruel filtrage à l'entrée, les carrés VIP, les baignoires de champagne, l'attitude no limit... sont nés au Studio 54.

 

Ils avaient même déjà compris que refuser certaines stars à l'entrée était bon pour la notoriété du Studio. Rubell avait même été jusqu'à refouler des habitués de la boîte, telle que Cher, parce que ce soir-là, ils avaient commis l'une ou l'autre faute de goût. David Lachapelle,actuel grand photographe de mode, a travaillé en tant que serveur dans ce bar mythique, lorsqu'il était étudiant.

Trivia
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-In 2008, about a decade after its original theatrical debut, writer-director Mark Christopher assembled a bootleg Director's Cut of the film with 45 minutes of never before seen footage and unofficially screened it at New York's Outfest around July-August 2008. This version reinstated the blatant promiscuity and bisexuality of Ryan Phillippe's character, as well as the film's core love triangle between Phillippe, Salma Hayek and Breckin Meyer which the Miramax studio forced him to cut from the original release.
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-Ryan Phillippe's character is based on Tieg Thomas, who worked at the legendary Studio 54 from 1977 to 1982.
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-The disco era covered in this movie spans from the summer of 1979 to 1981 while Studio 54 was run by Steve Udell and Ian Schrager.
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-In the end credits, Mike Myers' name appears next to a photo of Gilda Radner at Studio 54. When Myers was a boy, he played Radner's son in a Canadian television commercial, and both were cast members of "Saturday Night Live" (1975) (at different times).
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-Comedian Mike Myers's first dramatic serious role in a theatrical feature film playing nightclub owner Steve Rubell.
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-Writer-director Mark Christopher spent about five years writing and researching the disco era and Studio 54.
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-Though set in New York, the majority of this film was actually shot in Toronto, Canada in 1997. Principal photography for this movie was filmed during September, October and November 1997. Re-shoots of the picture were filmed in June 1998 only about two months before the film was due to launch in late August 1998. This additional photography was shot in New York and cast were not told the content of the scenes. The additional filming was conducted due to the poor results from early test screenings. Ultimately, 45 minutes of the original film was replaced with 25 minutes of new footage, the running time went from a two hour version to one around an hour and a half.
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-The film's promotional '54' film title logo was set in the same font and design typeface as the actual Studio 54 logo.
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-Debut theatrical feature film of director Mark Christopher.
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-This film was released in the same year as another disco movie, Les derniers jours du disco (1998). Production of that film was accelerated in order to get it released before Studio 54 (1998) which it beat to theaters by about three months.
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-James Marsden was considered for the role of Shane O'Shea.
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-Production studio Miramax developed a partial screenplay in 1995 and acquired the rights to this movie in 1997.
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-Dolph Lundgren was considered for the role of Greg Randazzo. (on l'a échappé belle !!!)