I toured the $10,000-a-night penthouse suite of a new luxury hotel in the heart of Times Square in NYC, and I felt like I was miles from the most-hated part of the city

times square editionKatie Warren/Business Insider

  • Legendary hotelier Ian Schrager just opened a brand-new luxury hotel in the heart of Times Square in New York City.
  • The Times Square EDITION is a 452-room luxury hotel that includes a restaurant run by a Michelin-starred chef, an outdoor terrace, and a nightclub.
  • A standard guest room starts at about $360 per night and the penthouse suite starts at $10,000 per night.
  • I took a tour of the hotel and its $10,000-a-night penthouse suite, and I felt like I was miles from the most-hated part of NYC.
  • Visit Business Insider's homepage for more stories.

Legendary hotelier Ian Schrager just opened a five-star hotel in an unlikely New York City locale: the heart of Times Square.

While Times Square is a bustling tourism and shopping hub, locals tend to avoid the area at all costs.

Schrager, who also cofounded iconic nightclub Studio 54, defended his choice to put the hotel there. He told Business Insider he's opened almost all of his hotels in "terrible neighborhoods" - and it worked out just fine.

"I did it in Miami with the Delano. Terrible neighborhood when I opened that up," he said of Miami Beach. "I did it in West Hollywood with the Mondrian. That was a terrible neighborhood when I opened up."

Read more: The cofounder of Studio 54 and inventor of boutique hotels explains why he opened his new luxury hotel in one of the most hated parts of New York City

I got a tour of the 452-room hotel and it's $10,000-a-night penthouse suite. Here's what it looks like inside.

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The Times Square Edition is a brand-new luxury hotel in the heart of Times Square in New York City. The 452-room hotel is a collaboration between Marriott International and legendary hotelier Ian Schrager, who also cofounded iconic nightclub Studio 54.

The Times Square Edition is a brand-new luxury hotel in the heart of Times Square in New York City. The 452-room hotel is a collaboration between Marriott International and legendary hotelier Ian Schrager, who also cofounded iconic nightclub Studio 54.

Schrager's Times Square EDITION is just the latest addition to the EDITION hotel family, which includes the New York EDITION on Madison Avenue, the London EDITION, the Miami Beach EDITION, the Bodrum EDITION, the Barcelona EDITION, and more.

Source: Times Square EDITION

On a recent spring morning, I went to the Times Square EDITION for a tour of the hotel, its amenities and restaurants, and its penthouse suite that starts at $10,000 a night.

On a recent spring morning, I went to the Times Square EDITION for a tour of the hotel, its amenities and restaurants, and its penthouse suite that starts at $10,000 a night.

Source: Times Square EDITION

The entrance is on 47th Street in Times Square, one of the busiest neighborhoods in New York City that locals tend to steer clear of, partially because of the crowds of tourists.

The entrance is on 47th Street in Times Square, one of the busiest neighborhoods in New York City that locals tend to steer clear of, partially because of the crowds of tourists.

For Schrager, Times Square is on the precipice of transformation.

"I have a hope that this hotel will attract a lot of other great hotels, a lot of other great restaurants, and a lot of other more sophisticated retail," Schrager said, "and be [the] thriving, bustling, naughty and bawdy place that Times Square was historically."

Source: Times Square EDITION

The hotel's minimalist black-and-white entrance is staffed by two doormen and flanked by (fake, I believe) potted plants.

The hotel's minimalist black-and-white entrance is staffed by two doormen and flanked by (fake, I believe) potted plants.

Source: Times Square EDITION

Unlike at other hotels, I didn't find myself in the lobby immediately upon entering. Instead, I was greeted by a large shiny green orb and the elevator banks to the right.

Unlike at other hotels, I didn't find myself in the lobby immediately upon entering. Instead, I was greeted by a large shiny green orb and the elevator banks to the right.

Source: Times Square EDITION

The lobby is on the 10th floor, where a sleek black check-in desk sits in front of a floor-to-ceiling plant wall.

The lobby is on the 10th floor, where a sleek black check-in desk sits in front of a floor-to-ceiling plant wall.

Source: Times Square EDITION

At the other end of the lobby is the hotel's sculptural stairway.

At the other end of the lobby is the hotel's sculptural stairway.

Source: Times Square EDITION

Before heading up to the hotel's penthouse suite, I peeked into the lobby bar, which includes a brightly-lit white room ...

Before heading up to the hotel's penthouse suite, I peeked into the lobby bar, which includes a brightly-lit white room ...

... and an all-black room with a fireplace.

... and an all-black room with a fireplace.

The penthouse suite, which starts at $10,000 per night, is on the hotel's 40th floor. It's the only room on that floor.

The penthouse suite, which starts at $10,000 per night, is on the hotel's 40th floor. It's the only room on that floor.

Source: Times Square EDITION

The spacious suite includes a living area, a dining area ...

The spacious suite includes a living area, a dining area ...

Source: Times Square EDITION

... and even a kitchen, complete with an oven, range, and sink.

... and even a kitchen, complete with an oven, range, and sink.

Source: Times Square EDITION

The terrace includes two stylish outdoor sofas and a sound system.

The terrace includes two stylish outdoor sofas and a sound system.

Source: Times Square EDITION

From the terrace, you can look down upon the hustle and bustle of Times Square. When I'm down in the middle of it, I'm usually overwhelmed by the noise and the crowds. But from the 40th-floor terrace, I found I could actually enjoy the liveliness and the sounds of the city.

From the terrace, you can look down upon the hustle and bustle of Times Square. When I'm down in the middle of it, I'm usually overwhelmed by the noise and the crowds. But from the 40th-floor terrace, I found I could actually enjoy the liveliness and the sounds of the city.

Source: Times Square EDITION

Like the rest of the suite, the bedroom is decorated in neutral tones. A fluffy throw blanket was tossed artfully on the bed.

Like the rest of the suite, the bedroom is decorated in neutral tones. A fluffy throw blanket was tossed artfully on the bed.

Source: Times Square EDITION

I walked past a walk-in closet to the sleek bathroom.

I walked past a walk-in closet to the sleek bathroom.

Source: Times Square EDITION

The bathroom includes a walk-in shower and a deep soaking tub overlooking the city.

The bathroom includes a walk-in shower and a deep soaking tub overlooking the city.

Source: Times Square EDITION

Schrager, who's credited with inventing the boutique hotel, is known for his dramatic yet minimal style in his hotels, and the rooms at the Times Square EDITION seem to be no exception.

Schrager, who's credited with inventing the boutique hotel, is known for his dramatic yet minimal style in his hotels, and the rooms at the Times Square EDITION seem to be no exception.

Source: Times Square EDITION, Business Insider

The Times Square EDITION has six different dining options. There's the casual Terrace Restaurant, which serves a variety of homemade pastas, steaks and chops, and vegetable dishes.

The Times Square EDITION has six different dining options. There's the casual Terrace Restaurant, which serves a variety of homemade pastas, steaks and chops, and vegetable dishes.

Source: Times Square EDITION

The dimly lit eatery is full of live plants, giving a jungle-like effect.

The dimly lit eatery is full of live plants, giving a jungle-like effect.

Source: Times Square EDITION

When I was there at about 10 a.m., the restaurant was full of people drinking coffee, eating breakfast, and reading the newspaper. Some were likely guests, but the restaurant is open to the public. Through a short hallway off of the restaurant is another bar.

When I was there at about 10 a.m., the restaurant was full of people drinking coffee, eating breakfast, and reading the newspaper. Some were likely guests, but the restaurant is open to the public. Through a short hallway off of the restaurant is another bar.

Source: Times Square EDITION

This gorgeous bar next to the Terrace Restaurant had the feel of a luxe speakeasy.

This gorgeous bar next to the Terrace Restaurant had the feel of a luxe speakeasy.

Source: Times Square EDITION

Red velvet stools were lined up at the black marble bar.

Red velvet stools were lined up at the black marble bar.

Source: Times Square EDITION

On the other side of the Terrace Restaurant is the outdoor garden, which has a tented ceiling adorned with greenery instead of a roof. Like in the restaurant, both living and artificial plants were scattered everywhere. This part of the hotel especially made it hard to believe I was in the middle of Times Square.

On the other side of the Terrace Restaurant is the outdoor garden, which has a tented ceiling adorned with greenery instead of a roof. Like in the restaurant, both living and artificial plants were scattered everywhere. This part of the hotel especially made it hard to believe I was in the middle of Times Square.

Source: Times Square EDITION

The outdoor garden leads to a wraparound terrace. On the morning of my visit, it had just been raining, but I could imagine how vibrant this space could be in nicer weather.

The outdoor garden leads to a wraparound terrace. On the morning of my visit, it had just been raining, but I could imagine how vibrant this space could be in nicer weather.

Source: Times Square EDITION

Walking around the terrace, I came upon yet another bar and lounge area adjacent to the Terrace Restaurant. All of these spaces are open to the public, not just hotel guests.

Walking around the terrace, I came upon yet another bar and lounge area adjacent to the Terrace Restaurant. All of these spaces are open to the public, not just hotel guests.

Source: Times Square EDITION

All the outdoor spaces were surrounded by greenery, which made them feel like something of an oasis in the middle of the city.

All the outdoor spaces were surrounded by greenery, which made them feel like something of an oasis in the middle of the city.

Source: Times Square EDITION

The hotel also has a fine-dining restaurant, 701West, with food by Michelin-starred chef John Fraser. "The dishes on the three-course prix fixe menu are conceived with the extensive, Old World wine list in mind," the website reads.

The hotel also has a fine-dining restaurant, 701West, with food by Michelin-starred chef John Fraser. "The dishes on the three-course prix fixe menu are conceived with the extensive, Old World wine list in mind," the website reads.

Source: Times Square EDITION

The wood-paneled dining room features electric blue velvet banquettes.

The wood-paneled dining room features electric blue velvet banquettes.

Source: Times Square EDITION

As Schrager became famous as the cofounder of Studio 54, I was looking forward to seeing the hotel's cabaret, the Paradise Club, created in partnership with the wild Brooklyn nightclub House of Yes. Unfortunately, it closed for a shoot during my tour, but the photos I was provided make it out to be quite the nightlife hotspot.

As Schrager became famous as the cofounder of Studio 54, I was looking forward to seeing the hotel's cabaret, the Paradise Club, created in partnership with the wild Brooklyn nightclub House of Yes. Unfortunately, it closed for a shoot during my tour, but the photos I was provided make it out to be quite the nightlife hotspot.

Source: Times Square EDITION

I'll admit that, going into my tour of the hotel, I was skeptical of the Times Square EDITION's location in Times Square, one of the most-hated parts of the city.

I'll admit that, going into my tour of the hotel, I was skeptical of the Times Square EDITION's location in Times Square, one of the most-hated parts of the city.

But to my surprise, the inside of the hotel felt like a sanctuary tucked away in the busiest part of NYC. And even though stepping out onto the terrace made me remember I was in Times Square, it wasn't actually a bad thing. I could see myself taking an out-of-town visitor up there for a drink and a view of one of the most iconic parts of NYC.

Source: Times Square EDITION

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