Definitely NOT sleepless in Manhattan.
Overall, this is a lovely, centrally located hotel in Manhattan. Yes, the rooms are small, but that's what should be expected of most NYC hotels. The staff was very friendly and accommodating, and the rooms were always very clean. The most surprising thing was how QUIET the rooms were! I expect a good deal of traffic noise whenever I travel to NYC, but didn't even get that during our stay here. Definitely the best sleep I have ever had at a hotel. 
Tips:
1) This hotel is VERY close to Madison Square Garden, so if you have a reason to go there, this is the place to stay.
2) The hotel is within close walking distance of a few different subway lines, so you can get pretty much anywhere in the city.
3) The turn-down service was automatic (they usually arrived around 7 pm), which is nice, as you don't have to request it. If you don't want the service, they respect the "do not disturb" sign on your door handle.
4) The staff will not book a shuttle service for you (contrary to what we have experienced at other NYC hotels). So, if you need to book a SuperShuttle or Go Shuttle, make sure you do it in advance (they need a minimum of three hours notice).
5) The elevators are very slow - not a huge problem, but something to keep in mind.
6) The in-room continental breakfast option costs 20$ and includes coffee or tea, juice, yogurt, fruit and a pastry. If you do your research, you can find a much more reasonably priced place within walking distance of the hotel instead.