It's an option for NY.
Location is super - three subway stations in the direct proximity of the hotel (2 minutes walk), Times square, theater district.
Entrance to the hotel is strange, as You have the entrance (where mostly but not always a doorman stands), then you have a small corridor and a lift that takes You to the second floor (reception)... if You want to get to Your room you have to go to different lifts hidden deeper in the entrance corridor. So it was sometimes strange, as You could go back to the hotel without the doorman waiting and bypass the reception on your way to the room...
Room was clean. Towels, pillows etc. were clean. Had hot and cold water. Ironing board was dirty. Everything worked. Toilet got stuck a few times. Room definitely could use a refurbishment. I lived on the 6th floor, bad window view - oh! and the windows did not open, so no chance for some fresh air. AC was loud (could switch on itself in the middle of the night and make some noise) so was the ventilator in the bathroom. Door to room - well it worked, but You could hear EVERYTHING from the corridor.
You could say that it is a designer hotel... but when something has not been refurbished when needed it looses it's "designer" status... right? I mean i.e. you have the Artemide lamps next to the bed and on the desk. Well... one lamp had isolation tape around the cable, and the desk one was screwed to the desk in such a way that it moved, and You had a hole next to the lamp (signs of a previous different lamp?)... so it's a over-used, not refurbished in time designer room... You get the picture.
This is definitely not a 4-star hotel in European standards. Rather 3 stars.
Staff was very kind and helpful. Awkward thing was that the hotel didn't have a service elevator, so You could meet the staff, cleaning ladies etc. in the lifts quite often. And since the hotel has 16 floors and two lifts You could meet them quite often (but still they were very kind).
Business - No. This is rather not a hotel for a business trip.
Family with kids - errr, rather not.
Friends, Solo - yes.
Senior - rather not.
Couples - errr, depends what Your looking for (note that the door... You hear EVERYTHING through it).
Food/Breakfast - they have the Serafina Restaurant on the ground floor. Ate only breakfasts two times there - was ok.
Bottom line: Hey this is New York. If You want 5 stars then You have to pay a minimum of 350$ per night... or You can stay at The Time and spend that money on theaters, musicals, food and shopping - face it - You don't spend Your whole day in Your hotel room when in New York.