"Everyone keeps thanking me for this party," said Giambattista Valli, in a gray three-piece suit made especially for the evening's event: a party in Valli's honor at the Chelsea apartment of Carlos Mota. "But it's not like I did anything for it. I was just an excuse." But why quibble over details? According to more than one person in attendance, Valli's party was a great one, whether he was host or merely honoree. "I'm having so much fun tonight," said T Magazine editor Stefano Tonchi, who spent most of the evening reclining between Jacqueline Schnabel and Nadine Johnson in Mota's boudoir. Francisco Costa responded, "I know; I love a house party. So much mischief happens when there aren't any cameras." (Well, there was at least one.) While any mischief was well hidden, smokers (an unavoidable presence at a Euro-packed party like this one) were in full force. Joining the designer were a handful of Valli girls: Mary-Kate Olsen, Astrid Muñoz, Margherita Missoni, Coco Brandolini, Lauren Santo Domingo, Linda Fargo, and Zani Gugelmann. And just when people thought it couldn't get any more glamorous (or crowded), wouldn't you know it—Valentino himself, with Giancarlo Giammetti in tow, arrived shortly after midnight. "Just another Friday night at mine," Mota laughed.