The Record Plant, the storied Los Angeles recording studio where Michael Jackson , Prince , Beyoncé , Lady Gaga and dozens of other music superstars made classic albums for decades, is one step closer to a sale now that veteran producer Rafa Sardina has purchased its assets for $500,000 during a bankruptcy proceeding last week. Sardina, who has won four Grammys and 13 Latin Grammys and has worked with Jackson, Stevie Wonder and Sheryl Crow , among others, takes over ownership of dozens of speakers, sound boards, microphones, cassette decks, CD recorders and other valuable sound equipment that was the heart of the studio for decades. Founded in 1968, the Record Plant has been the standard for music production due to its high-end equipment and an emphasis on service and luxury that made megastars feel like they were in their own homes.

Thanks to perks like a hot tub room, stars such as John Lennon and Fleetwood Mac took over studio rooms in the Plant’s early days; after it moved to its current location on North Sycamore Avenue in Los Angeles, Beyoncé rented every room to make her album Lemonade and Kanye West and Pharrell rode motorized scooters through the hallways. Sardina, who interviewed successfully at Record Plant early in his career before deciding to work at a different studio, did not respond to requests for comment about why he made the purchase offer. A lower bid, according to court documents, came from Italian producer Patrizio Moi , who has occupied a Record .