The building that is widely seen as the birthplace of Hip Hop has been sold for $7 million dollars.

Allhiphop are reporting that 1520 Sedgwick Avenue was sold to property developer Mark Karasick, who outbidded the current tenants of the building.

It was only last year that the building was eligible for landmark status.

Kool Herc, the founder of Hip Hop, lived in the buidling in the 1970’s voiced his disappointment that noone from the Hip Hop community ’stepped up to the table in some form of fashion’