The Masquerade NYC event requires formal or cocktail attire, with stilettos forbidden and a masquerade-style mask mandatory. Attendees must arrive on time, as latecomers risk being turned away by the Phantom. The show is rumored to have musical elements and possibly tiered rooms with hidden surprises, but concerns exist about add-on costs. Despite initial secrecy, details are slowly emerging, including a sold-out event and an upcoming ticket drop for July 9.