Eric Milon, often referred to as the "King of Miami," spent his youth modeling for GQ magazine, being photographed by Man Ray, and lurking around Andy Warhol's Factory. Ironically, the now practicing Buddhist neither drinks nor smokes. His new partner, Mark Baker—who, at the age of eleven, ran off with the circus and then became a world-renowned skateboarder—describes himself as the "godfather of contemporary New York City." Together, they're about to unveil Mansion, Manhattan's newest ultra-exclusive lounge. Before we start in with the description, let's just say, this is unlike anything you've ever seen before.

Approaching Mansion's 28th Street entrance, you'll be met with an imposing double wooden door with traditional door knocker. Upon entry (good luck), admire the 20-foot fireplace before moving in to the club's three lounge rooms. Glass-walled stairs guide imbibers into The Gallery, a white-walled and exposed brick room featuring artworks by contemporary artists.

Off of The Gallery is the Cougar Room, an XX-only space with its own bar, make-up artists, hairdressers, and... sex toys. Seriously. In The Study, sit down for quiet conversation surrounded by Persian rugs, a snooker table, and healthy cocktails made from echinacea, ginger, and cayenne pepper.

The biggest of these rooms is The Ballroom, 10,000 square feet populated by giant chandeliers, a glass-paneled library, and projection area. Somewhere in this decadent labyrinth are Pucci fabric sofas and bottles of champagne ranging from $180 to $5,000. Of this endeavor, Baker says, "Everyone wants a mansion in New York. Well, now they've got one." —Nick Haramis

(Mansion, 530 West 28th Street, 212.763.9131, www.mansionny.com, Open Thursdays, Fridays, Saturdays from 10 p.m. until 4 a.m., available all nights for private events.)