Barbie Has a 60th Birthday Party in SoHo

A dream house of a different type opened in Times Square on Tuesday night.

Ian Schrager held a party for the Times Square Edition, a 452-room hotel operated in partnership with Marriott International that wafts 42 stories above the touristy throng, as if held aloft by the heat of Broadway lights.

“This is a combination of highbrow and lowbrow,” said Mr. Schrager, 72, in his gravelly, Jimmy Durante voice. “It’s a very sophisticated sanctuary. Pristine on the inside, but all the outside spaces are right there in the middle of naughty and bawdy Times Square.”

It was also something of a return for Mr. Schrager to the neighborhood. Studio 54, the infamous 1970s discothèque of which he was a founder, is a quick stroll away. Four decades later, celebrities were still beating a path to his door.

Kendall Jenner and Hailey Bieber, the models and social media potentates, were there, each with plunging necklines, along with Cara Delevingne, Joan Smalls and Elsa Hosk. Peering at one another through the indoor palms were Suki Waterhouse; the sisters Alexandra and Theodora Richards; the brothers Harry and Peter Brant Jr; and numerous night-life denizens including Susanne Bartsch, Nur Khan and Chelsea Leyland.

Dylan McDermott, the actor, was besties with Maxwell, the singer. Also present was Matt Tyrnauer, who directed the documentary “Studio 54,” which received positive reviews for its candid portrayal of Mr. Schrager.

“I have an 8-year-old son, and we wouldn’t let him watch it,” Mr. Schrager said. “But he saw it when I wasn’t there, and he said, ‘Oh, so you had money and drugs in the ceiling?’”

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