Vanity Fair recently featured an article discussing the newest Edition Hotel designed by Ian Schrager located in Times Square New York, at 701 Times Square which is a USIF EB-5 project.

Being the hotel brand’s ninth Edition location, the Times Square location is certainly making its presence after a successful premiere party last week with A-list celebrities and Manhattan socialites in attendance. The Edition Times Square is setting the bar for the refreshing new energy Schrager believes was missing. Schrager expressed this to Vanity Fair: “Everything that was in Times Square kind of appealed to the lowest common denominator – not in terms of people, in just the offerings that were made. I don’t think what they did here reflected popular culture.” He continued, “It does not appeal to the diversity of New York City, only tourists being pandered by people in costumes…it became a commercial tourist Mecca, and we intend to change that.”

Although the hotel sits next to the Hershey’s store, is neighbors with the subway and is amidst temporary construction, Schrager has managed to create a tranquil grand entrance, boasting a rare commodity in Times Square – stillness and quiet – paired with immaculately designed interiors.

The premiere party took place on the Terrace, the hotel’s all-day restaurant situated on the 9th floor, and doors opened to the usual mix of conversational chatter among background music. Guests included models like Elsa Hosk and Joan Smalls, artists like Chloe Wise and Arthur Elgort, young socialites like Peter Brant Jr., and fashion week’s Maxwell Osborne and Teflar Clemens. Guests were served family style by Chef John Fraser, of The Loyal and Nix. Central to the dining space, Kendall Jenner and Hailey Baldwin were in attendance.

Guests were treated to a surprise guest performance by Diana Ross, below the Terrace on the seventh floor, at the Paradise Club. Ross sang hits like “Upside Down” and “I’m Coming Out” to a packed and enthralled audience. She was accompanied by longtime collaborator and opener, Nile Rodgers.

Schrager describes Times Square trends coming and going as “waves”, with the first being centered around the sex trade, drugs and “everything like that” until the “private industry changed it. Marriott opened Marquis, and Disney opened New Amsterdam Theatre,” he said. Schrager describes the “second wave” as “us launching this hotel that will be attracting ‘in the know’ people in New York – and also ‘in the know’ people who visit New York – back to Times Square. It’s going to start a chain reaction – and other great restauranteurs, sophisticated retail, and other great concepts will make Times Square the cultural hub of the city, the way it was in the early part of the 20th century”.

701 Times Square and the Edition hotel are at the center of the “second wave” for Times Square. 701 Times Square is a U.S. Immigration Fund EB-5 project – it is the first and likely the last new construction project in Times Square in 25 years. 701 Times Square also has the largest 18,000 square foot interactive LED display in the state.

Original Source: Vanity Fair