You can find much better places to stay
The only thing this hotel has going for it is the location. For some people, that may be enough, but really, there are tons of hotel in the city in the same price range that are much better. 
The rooms are tiny and the layout is very inefficient. I'm quite petite (5 feet) and can barely sit at the desk since the chair is wedged so tightly between the desk and the bed. The only outlet near the desk does not work, the TV remote did not work, the wireless internet is incredibly slow, there is no heater (it is currently September, but with the temperature dropping to the 50s in the evening, the room was freezing). One of the 2 elevators are broken during my stay also, so it took forever to wait for an elevator.
Overall, not really happy with my stay and will definitely be staying elsewhere next time I visit NYC.