A depiction of the Plaza Hotel's Grand Ballroom [Via FWD]

The Plaza Hotel's Grand Ballroom in Manhattan has been an iconic locale for many fashion events such as Truman Capote's "Black & White Ball". The venue has since been in renovation and $400 million later (WOW!!), the the restoration to it's early 20th Century opulence is complete.  The neoclassical Grand Ballroom will serve as a venue for Chanel's "Night of Diamonds" celebration. The extravagant seated dinner for the fashion house's fine jewelry division will take place on January 16th. Chanel is celebrating the launch of a new collection, this time around. Millions of dollars worth of precious gem will be on display, some being flown in from Paris just for the occasion. After the renovation the ballroom is poised to once again become the city's most sought-after space to party! This is the same space in which Catherine Zeta Jones and Michael Douglas were married and Sarah Jessica Parker celebrated her 40th birthday bash.