Great location!
Stayed here for one night over the weekend. It was a last minute booking but the price was reasonable for just a minute's walk to time square. The building seemed old but the restoration was well done. The location is perfect, if your looking for tour buses they're just on the next street. Restaurants everywhere. 
The staff was great tp me, I came to the hotel early to put my stuff down before I went sight seeing. The check in was supposed to be at 4 but she gave me an early check in at 12 because they had some availability. I noticed however, that one of the receptionists could sometimes be rude to the other guests. I however have no complaints. 
My room was clean and of good size.The coffee machine in the room wasn't working, but I wasn't expecting one in the first place. So I didn't miss it. There is no internet in the room, but again I didn't miss it, it is available in the lobby.
Had a great time in NYC, it was even better because of the hotel I stayed at.