Thursday night's toast to the latest incarnation of Interview magazine took place at the not-soon-to-open Standard hotel, and it may prove to be the edgiest event of fashion week: A sterling guest list of editors, top designers, and world-famous models spent a good part of the evening at a construction site, and not one of them wore a hard hat. Event staff guided revelers through a maze of rough concrete and orange plastic mesh to the industrial-chic (OK, plain old industrial) elevators. The likes of Donna Karan and Mary-Kate Olsen ascended to the 18th floor, where stunning city views and surprise performances by Fab 5 Freddy and the Voluptuous Horror of Karen Black awaited. Spotted among the crowd: Lauren Hutton, Stephanie Seymour, Jessica Stam, and Jacquetta Wheeler, whose new blond hair was on full display. "It's been a few days," she revealed. "So far, I am actually having more fun." Tara Subkoff, meanwhile, pointed out that the venue made a certain sense. "Warhol always celebrated factory-type spaces," she said, referencing the magazine's founding father. Lydia Hearst had the last word, though. "As they said in Zoolander," she noted, "it's 'derelict.'"

— Darrell Hartman