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Before they worked together, Will Arnett and Bradley Cooper used to be neighbors

At the premiere of Is This Thing On? , Arnett shared that he and Cooper used to fawn over another famous actor who lived in their neighborhood

Is This Thing On ? releases in select theaters Dec. 19

Will Arnett and Bradley Cooper go way back.

At the world premiere of Is This Thing On? at the New York Film Festival, Arnett, 55, reminisced about when he and Cooper, 50, lived in the same building at the start of their careers.

“I first met him at a bar here in New York with friends, and we instantly hit it off and became pals,” Arnett tells PEOPLE. “Then we were living in California, and I was looking for a place to stay, and he said, 'Oh, my neighbor's moving out of this back building

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