Disappointing... only good for location.
The best thing about this hotel is its location. It's very close to Central Park, Times Square and Broadway. There's even a Subway entrance right outside the side door. That's pretty much the only positive thing. 
The Wellington hotel is badly in need of a refurbishment. Apparently some of the hotel has been updated, but both rooms I stayed in certainly haven't had anything done to them in a long time and looked they belonged in the 1960's. I say both rooms because we were so disappointed that we asked to switch rooms, which the staff were helpful about and happy to let us do so, but the second room was barely an improvement. It's very shabby, never looks clean and because of this I never felt completely comfortable or relaxed in my room. Several of the lights in the first room didn't work and in the second room the lighting was extremely poor. The air conditioning was old-fashioned, noisy and didn't work properly in my room. My room hadn't been cleaned properly, there was lots of rubbish behind the chest of drawers. 
Generally people visiting NYC are out and about most of the day and are just looking to hit the pillow at night, but you still want to come back to somewhere that's comfortable, clean and that's been looked after... this isn't it. So be aware that the photos on the Wellington website of the rooms are misleading.