Could be great but...
We stayed here in October 2012 and we were booked into a Metro Room with a Queen Size bed. The room was small and a little worn looking but it is New York so I expect this is normal. The location is really superb and our view was terrific so no complaints there. On arrival the Check-In receptionist Ophelia was outstanding. She was very welcoming and helped get us checked in without any fuss. 
On arrival in our room we unfortunately found several hairs stuck to the wall of the shower and pubic hair on one of the towels. I rang down to reception and they immediately sent us someone from housekeeping who cleaned the toilet and shower for us again and replaced the shower curtain. This the reason why I could only score the hotel average and not very good.
Apart from this mishap at the start of our trip everything else was fine until we were presented with our bill and found they it was much higher than the total shown on Priceline. This was my fault as the 15.75% New York taxes were shown (in tiny tiny writing) on the Priceline bill but please anyone booking a room in NY make sure all taxes are included. It was a costly error on my behalf but one I won't be making again.
Overall this was a nice hotel with great location and I would recommend it to anyone wanting a easy base for exploring Manhattan.