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Parties up and down the island for a pair of New York institutions

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First up on last night's dance card was the New Museum's annual Spring Gala at Cipriani Wall Street. To fit in with the "red and racy" theme—Ferrari underwrote the fundraiser—hostess Greta Gerwig wore an oxblood Stella McCartney jumpsuit, and she wasn't shy about the problems such a garment poses. "I love a jumpsuit—there's something so Lauren Hutton about it—but I'm afraid to drink too much because I'd have to take the whole thing off to go to the bathroom!"

Wardrobe complications aside, Gerwig believes the New Museum is an institution worth gussying up for. "I feel like I get an education every time I go to the New Museum," the actress told Style.com. "And they actually have employed many of my friends! The people I know who are really smart and do interesting things, the New Museum employed them, and I think that's a great testament to the museum's taste."

Uptown, the Observer threw a cocktail party at Casa Lever in honor of its recent redesign. The iconic salmon broadsheet is no more, and the paper's makeover had the fashion contingent considering what, if anything, they would make over on themselves. Alek Wek vowed to start wearing more color, and Kate Foley wished she could get just another inch or two of height. Leigh Lezark, who dyes her fair hair jet black, vowed not to go light again: "They say blonds have more fun. I definitely don't think so."

Considering the power players who came out to play on a school night— Katie Couric, Martha Stewart, and Donald Trump, among them—it's fair to assume the paper's new format will broker as much influence as the old one. The idea wasn't just to preserve the paper, said Observer publisher Jared Kushner, but to drive it forward. "We just wanted to do something that would reincarnate what a New York paper can be," he said, "to give it a future and life."

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