Bankrupt Studio Faces Auction - ProSoundNetwork.com

Bankrupt Studio Faces Auction

A major recording/production facility in North Hollywood, Calif., that formerly housed LA Sound Gallery and most recently Legends Studios, is being auctioned after Chapter 11 bankruptcy transitioned into a Chapter 7 foreclosure.
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N. HOLLYWOOD, CAA major recording/production facility in North Hollywood, Calif., that formerly housed LA Sound Gallery and most recently Legends Studios, is being auctioned after Chapter 11 bankruptcy transitioned into a Chapter 7 foreclosure. With an estimated value of between $3 million and $4 million, the venue will be sold at auction during the coming weeks by Tranzon, in association with Tiger Group/Asset Intelligent, as a turnkey property with real estate and recording equipment, or separately.

The vintage 72-channel Neve 8078 analog console with Flying Faders automation in Legends Studios’ scoring stage control room. Built in 1940 as a 740-seat movie house named The Magnolia Theatre, the venue was reportedly purchased by Barbra Streisand in 1979 and refitted as a two-room recording studio, renamed Evergreen Studios. Changing hands numerous times over the years since then, the facility was renovated and re-equipped until most recently the 15,000 square feet footprint included a Mixing Stage, a Scoring Stage with 30-foot ceilings, two Edit Suites, two Video Editing Suites and two ADR Recording Stages, plus kitchen and offices. More recent projects at the studio have included music for Hannah Montana, Fringe, The Simpsons, Family Guy and King of the Hill, plus sessions with composer Mark Isham and producer Mutt Lange.

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Renamed Legends Studios, the Scoring Stage’s control room currently houses a vintage 72-channel Neve 8078 analog console with Flying Faders automation, linked to a machine room that contains two Studer A827 24-tracks and a two-track A80. Outboards include several Tube-Tech, Pultec and Fairchild dynamics/EQ units, plus a vintage EMT Model 250 digital reverb. There is adjacent parking for 70 vehicles, as well as gated VIP parking and a rear patio.

Tranzon Auctions
tranzon.com/TAS150000