Last night, Ian Schrager unveiled his newest project, the massive PUBLIC hotel on the Lower East Side, with a no expense-spared blowout. The new hotel sits on Chrystie Street in a massive new building and, in the company's words, aims to bring "luxury for all" with thoughtful design, top notch service and premium amenities at a (relatively) affordable price point.

In keeping with the "luxury for all" theme, the hotel fêted hundreds of guests last night who made up the kind of fabulous New York cross-section that Schrager is well-known for attracting; walking past the entrance's signature neon-lit escalator, you might see anyone from nightlife empress Susanne Bartsch and her muscleman gym mogul husband David Barton to Ashley Olsen or it model Adwoa Aboah. The party started with cocktails in the hotel's gorgeous bars Diego and Lobby Bar, followed by a dinner created by Jean-Georges Vongerichten who oversees the property's two restaurants, PUBLIC Kitchen and Louis, and then an upstairs / downstairs party that brought out Patti Smith reading poetry and playing music in the basement venue PUBLIC Arts and dancing and drinks atop The Roof, their rooftop venue that now lays claim to having one of the most killer views of the city.

The hotel officially opens its doors to guests and visitors today and if last night was any indication, is going to be one of the best new hangout (and stay-in) spots in the city for visitors and locals alike.