Highly Recommended
My wife and I have just returned home from a five night stay at the Elysee. This was our first visit to NYC and was to celebrate our 30th Wedding Anniversary so I spent quite a bit of time researching hotels before travelling. Chose this hotel through reading the numerous positive reports, we were not disappointed. We had a very comfortable stay in a 10th floor King Suite, experienced no traffic noise although there was a constant low hum from the adjoining building air con units during the night however, after the first night we didn't find this troublesome. 
I had the impession the hotel must be a good place to work as all the staff we came across were consistent in their friendly helpful approach, they appeared to genuinely care that we were able to enjoy the whole of our visit and not just the time spent at the hotel. 
We were able to fill up for the morning with the complimentary continental style breakfast served in the comfortable and relaxed 2nd floor Club Room. This room was of great benefit with hot and cold drinks and small snacks available throughout the day, the wine and cheese evenings are also a nice touch. 
I do agree with some comments that the hotel is looking a little 'tired' in places but understand that updating is a continuing process. It can be a long wait for the one lift especially during breakfast times. We didn't have any personal internet access with us and sometimes the wait for the one hotel provided internet terminal could be frustrating.
The hotel is conveniently situated for many of the main NYC attractions which are within walking distance. We found NYC a very easy place to get around on foot, we felt safe at all times and the NYPD are certainly high profile and in view in most of the areas we visited. The nearest subway station is about a minutes walk from the hotel, we found this a trouble free and convenient way to travel. It's also easy to get a taxi cab as there seems to be a continuous stream of them passing the front door of the hotel, the doormen are efficient in their ability in getting one to stop for you.
Overall a 'sound' experience and I wouldn't hesitate in recommending a stay at the Elysee especially for first time NYC visitors.