Inside NYC’s Coolest New Hotel (Yes, It’s In Times Sq.!)

"Cool" and "Times Square" aren't usually used in the same sentence — until now. Indeed, we're giving major kudos to the newly re-imagined Paramount Hotel for switching up midtown's tourist trap's connotation. Following a year-long, $40 million renovation, the 46th Street historic hostelry — first opened in 1928 — has been transformed into an epicenter of all things chic...really! First, let's discuss the jaw-dropping double-storied lobby: Inspired by the building's original creator, iconic theater architect Thomas W. Lamb, the space is being billed as a giant "living room," with a DJ spinning on the second-floor balcony, oversized light fixtures, and one epic fireplace, with a clever stainless steel, mirrored design that makes the flames repeat in triplicate.

Jet-set touristas can also make use of Paramount Bar & Grill — in partnership with LDV hospitality, the restaurant serves modern American comfort food from chef Jason Kallert, with signature dishes including the hefty Burger Deluxe and Chicken Pot Pie. For a quick fix, guests can pop in to Corso, a sleek Italian-style coffee shop, or stock up on sundries in the lobby's gift shop, with the latest fashion glossies, imported sweets, and luxe lotions and potions. To further complete the one-stop experience, Diamond Horseshoe, a cabaret club in the vein of The Box, will be open for revelry starting in the fall.

Finally — and, in our humble opinion the pièce de résistance — there's Free & The Brave, a fresh retail concept from the in-the-know chick behind The Surf Lodge's boutique. Seriously, even if you're not looking for a staycation, it's worth the subway ride uptown just to check out the store's killer merch. On tap? Quirky, printed cards from Brooklyn-based stationers Gold Teeth, a carefully curated selection of men and women's clothing (think: designers like Suno, Levi's Vintage Clothing, and Rogan), and hard-to-resist pickup items, including books from Assouline, C.O. Bigelow, and Miansai.

While we have yet to check out the rooms, we're thinking that they've got to be as slick as the rest of the surroundings — but, with all the action happening outside, we're guessing you won't be spending too long having breakfast in bed. Check out the slideshow — we dare you to disagree.