Liv Tyler leads a pretty humble existence, what with her penchant for doing her own coin-fed laundry in the basement of her New York apartment, according to the debut issue of Gotham magazine. Tyler, 23, the cover girl of the first issue, was just one of the many celebrities on hand at the trendy New York launch party for the new publication, which is published by Hamptons magazine publisher Jason Binn. Binn explained why he selected Tyler, the daughter of Aerosmith frontman Steven Tyler, to be his, well, guinea pig. "She's New York," he told PEOPLE. "She's not over-exposed. She's at a great point in her career." Donald Trump also made an appearance at the posh gathering, with girlfriend and Sports Illustrated model Melanie Knauss. Gotham now features Trump as a real estate columnist, so the Donald was celebrating his fledgling career as a writer. When informed that writers typically make less than real estate moguls, he replied, "I'm just doing a favor for a friend."