"Manhattan is an ever-evolving island, especially when it comes to real estate," e-mailed Ms. Dannenberg, who will serve as the new publication's CEO and publisher. "In the days of Henry James, the social set lived in what is now known as Greenwich Village and from there they moved to Edith Wharton's Chelsea and onward to the Upper East Side.  [But] we are no longer defined by where we live. We are not an Upper East Side magazine, but a magazine for the affluent household, not defined by neighborhood or by age but by mutual interests and similar demographics. What Manhattan needs is a magazine written and styled for the affluent, stylish, intelligent and savvy man or woman who can and does only exist in New York."

The new publication will cover social events, luxury style and New York personalities. "We will be at every movie premiere, black tie charity benefit, hot night club opening and in the front row of every fashion show from Alexander Wang to Oscar de la Renta to tell who said what to who, and why they said it," said Mr. Davis, via email. "News breaks by the tweet in Manhattan, so expect updates on the digital horizon as well as print. We are fascinated with what's next, whether it be a hotel (we already have the insider scoop on The Standard's new East Village location), to a handbag, to the girl of the second that has the style world swooning. We will keep you talking and guessing all year, and all night long."

"The three of us are thrilled to be given the opportunity to create and entirely unique and unexpected magazine," added Ms. Burns, via email.

Ms. Dannenberg, Mr. Davis and Ms. Burns are all Manhattan natives and Ms. Dannenberg pointed out that they're all ostensibly part of the demographic they're also targeting. "Peter Davis is a Buckley boy, has over 15,000 Facebook followers, and has written for every prestigious magazine on the planet," said Ms. Dannenberg. "He is always the most popular man at the party. Cricket Burns is herself a Sacred Heart girl with two Sacred Heart girls of her own. She has worked at Harper's Baazar, Seventeen, Quest, Luxury Finder.com. and AVENUE magazine."

Ms. Dannenberg spent over 23 years at AVENUE with breaks in-between to work as Publisher at start-ups Manhattan File,and Luxury Finder.com and in-between, she was Publisher at Quest.

"I'm excited to work with a team that has already demonstrated success," Mr. Kushner said, "And I look forward to seeing what I know will be a creative, smart and stylish publication."

Last night, Avenue magazine threw a launch party for their newest--real estate-centric--issue. In a spread that stretches over 23 glossy pages, the kings and queens of Manhattan real estate strike their finest poses.

For Warburg Realty's Richard Steinberg, the movie-star spread was fitting. "It's the East Coast Hollywood," he said.

Nevertheless, it was still surreal to be drinking with a roomful of the elite--especially with glistening (and very flattering) portraits adorning the walls.

There's the "Moguls" (the Zeckendorf boys); "Leading Ladies" (11 in all, six from Corcoran, and rougly two-and-a-half smiles total); and "The Boss" (Donald Trump sitting in the boardroom, flanked by the straight-faced kiddies).

"I knew nothing about New York real estate," said photographer Josh Lehrer, standing beneath his Trump family portrait. "I guess this was a crash course. You know what surprised me? Every one of these people knew how to work it and pose."

By putting the real estate powerhouses-turned-models together, one might fear a bitter clash of egos. You have Linda "The Diva" Stein, Louise "The Icon" Sunshine, and Dottie "The Movie Star" Herman? (Not to mention, the issue also features Dolly "The Rainmaker" Lenz sprawled across a piano a la Michelle Pfeiffer, as Page Six mentioned today).

"You know, everyone gets along," explained Avenue's svelte publisher Julie Dannenberg, the evening's hostess. "And they have to! They have known each other for a long, long time."

Mr. Steinberg--one of the" Leading Men"--agreed. "For the most part, the members of the top tier genuinely like each other. There's enough to..."

"Go around," added Corcoran's Sharon Baum, one of the "Leading Ladies."

Robby Browne, her gregarious Corcoran colleague, gave their hostess a quick kiss.

"I wasn't really looking forward to it," admitted, Mr. Browne, regarding the seven-man "Leading Men" shot. "But it was wonderful!"

"He's God," Ms. Dannenberg intones as he glides away.

The plush elegance of Guy Regal's eastside gallery certainly added to the event. In the front window, a blown-up print of "Leading Ladies" rests against two Italian Baroque credenzas.

"We've always been important people," said "Leading Lady" (and Sotheby's luxury broker) Nikki Field. "Now we're just more visible."

- Max Abelson