Exceeded expectations
I stayed at the Sheraton Tribeca for five nights in a suite. I was upgraded from a studio suite to a suite, although I don't know how much I gained...the suite was great, though.
The hotel kind of lacks the character that many older or boutique hotels in New York have, but for a longer stay, I'd rather be comfortable than feel cool. I was very comfortable and for a reasonable price (despite paying for a studio suite).
I didn't try breakfast in the hotel or use room service. There is a 24 hour deli next door which was extremely convenient. Bottled water was replenished each day.
I was not looking for the typical Midtown tourist experience and the Sheraton Tribeca was perfect for seeing a different side of New York (having lived in Hell's Kitchen years ago, I wanted to stay downtown for a change of pace). If you are interested in seeing more of the small businesses and boutiques that are unique to New York, I definitely recommend the Tribeca/Soho area.