Great lobby, tiniest rooms ever
I booked this hotel on Hotel Tonight where I often see it featured. The price was right and you can't beat the location if you're going to any Broadway show. It is directly across the street from the theaters where the "Gershwins' Porgy & Bess" and "Nice Work If You Can Get It" are playing.
I think it's ideal for theater-goers for that reason, but it would be horrible for families because the rooms are super small. Think cruise ship small. Basically, my room had a double bed in it and a chair -- that's it. If you are the least bit claustrophobic, you will be miserable. There are airplane lavatories which are the size of this bathroom. 
But, it was immaculate and priced right. For me, it was perfect. 
I loved the lobby with it's ample seating and free WiFi. And the staff couldn't have been more helpful. And added bonus is the Dean & Deluca off the lobby.
I would stay here again for future NYC weekends when I had theater tickets, but otherwise, I would pick a different place.