Just ok. There is a lot better.
If you young hipster and single, Mondrian is the place to be. It has the best looking people in the city. Especially woman. 5 to 1 to men.
As far as the hotel, its a bit of a joke. The rooms were not ready at 3 pm. They were ready at 3:46 pm. This embarressed me as i had five rooms booked and was hosting a group. I call it amateur night. The staff is badly trained at the front desk and really didn't care that we were held up. When I started voicing my opinion they did not know how to handle it at all. 
There is a door man but he just stares at you as you walk in, no help with luggage, lots of help when you want a car (as they get a kick back). The room is ok, the air conditioner is very loud. The shower is hard to control but once you get it going the pressure is good. The bed is very good, the pillows ok. The room service was on time but over salted, which is hard to believe in todays day in age. The washroom amenities ok. The halls are very loud and impossible to sleep during the day.
For the price and level of service I would stay at the Standard in the meat packing district. They are a bit cheaper and have a better hotel, service, food and places to drink and eat. 
If you want chicks, stay at the Mondrian.
I am staying at the Crosby next week it is double the price of the Mondrian, so I am expecting great things.
Hope this helps someone thinking about their choices.
Joseph