Now a hostel!
I booked a room at Hotel 41 at Times Square in June for about $225 (including taxes) and was shocked to see mostly young backpackers lined up to check in. Our room was cramped with barely enough space for our stuff. There was wifi (weak signal) but no phone, no toiletries, and no other amenities. I only found out that it had been converted into an Equity Point hostel when I asked for ice from the bar. The lady was shocked when I told her how much I paid for our room. I was furious that there was no notification about the hostel conversion and that I paid so much for a room in a hostel! We didn't bother to partake of the free continental breakfast in a dark, dinghy bar.