Like a bad book with great cover art....
The good points first - great lobby, bar, and restaurant scene. Interesting ambiance, lots of personality, decent service with some wit and a little attitude - all good. 
Once you get passed this - the functional part of the hotel is tired, cramped, claustrophobic, dark, worn, shabby, uncomfortable and depressing. My rooms was a closet. The bathroom was so small, you can barely turnaround. The flooring in my room was loose and had puckered in a way that when I walked the three or four steps that the room allowed I made a loud sucking sound. A small TV was randomly mounted in the middle of one of the side walls. While I don't watch TV, this seemed like a rather odd arbitrary design choice. Nothing about the cramped space seemed thoughtful or designed to make someone feel relaxed and comfortable.
I suppose the defense of this design is that the price is supposed to make up for the lack of space and amenities. If they were charging hostel rates - this quality of room would be acceptable - but they aren't, not even close.
Basic recommendation - if you are in the area, stop by The Hudson for a drink or meal - but stay in one of the dozen or so other hotels in the area where you can be comfortable.