The Factory’s Mylar balloons have long since deflated, “Baby” Jane Holzer sells real estate, and Barney’s offers customized soup cans; but the illicit thrills of a loft party will never diminish, no matter the cover charge. Lo_Fi Performance Gallery, inconspicuously perched along Eastlake Avenue, would be dialed into Warhol’s BlackBerry today. On a recent Saturday night, as the mod monthly Studio 66 wound down its yearlong run, the psychedelic bubblegum of Strawberry Alarm Clock and beaten-down blues of Holly Golightly filtered from the front bar, courtesy of DJ Vodka Twist. The already-cramped space was overflowing with pristine Chelsea boots and vodka tonics. The bar scene may be clubby, but the rear raw space, with a second bar and vaulted ceiling, is where dreams of Edie are quickly realized—serving as an exhibition and performance space as well as a music venue. Tuesday’s Stop Biting features the hip-hop collective Hidden Habitats (plus $3 wells and $1 Rainiers). As DJ Chrispo spun late-night radio favorites, and local bands Zero Points and Tall Birds covered songs from Pebbles (an offshoot of the classic garage-rock compilation Nuggets), it was almost as good as being there the first time around. KATE SILVER