Stage 42 was built by the Shubert Organization in 2002, as part of a new residential tower located on West 42nd Street’s Theatre Row. Originally named the Little Shubert, Stage 42 is the first off-Broadway theatre owned by the Shubert Organization.

Notable features of Stage 42 include an exceptionally well-configured auditorium with stadium seating providing excellent sightlines and proximity to the stage. The stage itself and the orchestra pit are comparable in size to the dimensions of many Broadway theaters. The interior décor blends exposed technical infrastructure with warm, rich colors, and includes reproductions of artwork from the Shubert Archive collection. On the exterior of the building, the marquee consists of an ornamental canopy in architectural metal and glass.