Legendary Magic Shop music studio plays final tune after being priced out of SoHo

SOHO, Manhattan (WABC) -- A legendary recording studio that used to be a hub of New York City's arts culture is now another sign of the changing landscape.

The Magic Shop in SoHo -- where artists like David Bowie, the Foo Fighters and Coldplay have recorded -- is has played its last tune and closed its doors.

For almost three decades, The Magic Shop lived up to its name. But now, it's fallen victim to changes in the neighborhood and has been priced out.

It's the place where Bowie recorded his final album shortly before his death.

"Here's a wall that represents about a third of the records that got made in The Magic Shop," owner Steve Rosenthal said. "Records liks like Counting Crows, Joey Ramone, Lou Reed, Norah Jones."

Rocker Dave Grohl fought alongside Rosenthal to try and save the temple of tradition.

"I think vintage equipment gives a certain warmth to the sound that digital equipment doesn't," Rosenthal said.

The plaques on the wall are testament to his success, as are the instruments, including the piano that Chris Martin played on Coldplay's "Viva la Vida."

"I modified it, and I put silver thumb tacks on the hammers," Rosenthal said. "And so you get a very bright sound."

It's a place where old meets new in many ways, so it's fitting that the last record to be made at The Magic Shop was the work of young musicians who call themselves Alyeska.

"It's just so strange to think that this might be a random store the next time I walk by this street," lead singer Alaska Reid said.

It would be like the store that replaced the legendary rock club CBGBs.

"The neighborhood has been completely transformed, and not really in a good way," Rosenthal said. "They landmark buildings, yes. They landmark streets. But they don't landmark cultural places."

Now, one more piece of New York City history is lost. The final bit of magic is finished, with the studio closing for the final time Wednesday.