Square 42 Hotel

Lorient Holdings acquired Square 42, a boutique hospitality asset at 360 West 42nd Street in Midtown Manhattan, as part of its strategy to invest in high-quality, cash-flowing real estate in supply-constrained, high-barrier urban markets.

Acquired as a conventional 52-room hotel, Square 42 was reconverted by Lorient into a mix of one-, two- and three-bedroom units with full kitchens and living space, a product that is scarce in Midtown and commands a premium from families, groups and extended-stay guests. Square 42 now operates as a boutique hotel and short-term accommodation property, catering to both business and leisure travelers seeking a centrally located, design-forward experience in one of New York City's most active corridors. The asset benefits from proximity to Times Square, Hudson Yards, major transit hubs, and key commercial centers, driving consistent year-round demand.

The investment thesis centers on stable operating cash flow with long-term upside, supported by strong location fundamentals and disciplined cost management. Lorient has focused on improving operational efficiency, optimizing room mix and pricing, and maintaining the property to institutional standards while preserving its boutique positioning.

As a hotel-condominium structure, Square 42 also provides flexibility in ownership and capital strategy, allowing for potential future monetization through refinancing, selective unit sales, or a broader exit depending on market conditions.

Square 42 reflects Lorient's ability to execute across asset classes, combining hands-on operational oversight with a long-term ownership mindset in one of the most competitive real estate markets in the world.