You can do better for the value if you plan ahead.
This hotel is inexpensive and in a good location for those traveling to New York City. This is the best that can be said about this hotel. 
If you plan in advance you can find four star hotels for around the same price and they will be well worth it for a few days stay. There are no creature comforts here, no modern amenities. Couple this with weak wireless signals throughout the hotel and you are offline and instep with the dated appearance of the décor (which is noticeably falling apart). If it's too much to improve the décor of the hotel, at least provide the staff with decent suits. Some of the staff is unpleasant, but it could be a result of larger administrative issues here.
Not a bad place by any means, but not so much of a value as to disregard the amenities and hospitality of finer hotels that are slightly more money.