The building was originally a Consolidated Edison power plant. In 1977, it was rebuilt as a recording studio by producer Tony Bongiovi and his partner Bob Walters and gained renown as one of the finest acoustic environments for recording in the world. It has won several studio industry awards over the years, including a Les Paul Award for Special Lifetime Achievement in 1991.
The complex was renamed Avatar Studios (under the Avatar Entertainment Corporation) in May 1996. In 2017, the studios were renamed back to Power Station, by special arrangement with BerkleeNYC.