The Loft was the location for the first underground dance party (called "Love Saves the Day") organized by David Mancuso on February 14, 1970, in New York City. Since then, the term "The Loft" has come to represent Mancuso's own version of a non-commercial party where no alcohol, food, or beverages are sold. Mancuso's vision of a private party is similar to, and inspired by, the rent party and house party. Unlike conventional nightclubs or discotheques, attendance is by invitation only. In the late 1970s, Mancuso abandoned the generally accepted and expected practice of beatmatching, preferring to play songs in their entirety on his renowned audiophile-quality sound system, considered to be the best in New York, and among the best in the world,) during the venue's heyday.