I suggest to spend slightly more for something much better.
This was the second time I had stayed here. This time was much worse, and will be my last.
The rooms are small, but I think theyre fine for 1 or 2 people. It's New York, so you're unlikely to be in your room much anyway. They are also very clean. I will give them that.
There is a station which shows XXX content on it in each room. Id suggest parents with kids be careful about this. I cant remember the channel name, sorry. 
There is free wi-fi in the room, which is good. However, sometimes it's fast and sometimes it's very slow. There are public 3 computers and 1 printer available to use for a small fee. Also, my mobile phone and no signal in my room. I was on the first floor so maybe thats it? It was aggravating whatever the reason. 
The bed wasnt very soft, quite firm in my opinion. So, depending on how you like your bed to be, this can be good or bad. 
The AC/heat in the room was VERY, VERY loud. I couldnt turn it on at night to sleep. Therefore, when I woke up it was cold in my room.
One of the worst things about this place is the shower. It gets very cold all of a sudden....then you get scalded. I like a good, warm shower that stays warm for 10 mins or less. This was AWFUL. 
The walls are very thin, so if you're a light sleeper like I am. BEWARE. I couldnt sleep well at night. A poor nights sleep really wears on you when you're running all around the city.
The staff are unfriendly and act like they'd prefer if you werent there. My bathroom had a leak dropping from the overhead vent. It soaked the floor. I went to the front desk to ask if I could change my room. He acted like it made him angry to have to deal with this. He said he'd send someone to fix it. Why couldnt I just get a different room with a dry floor? The guy came, said "It's because the people above you were taking a shower. It will stop in 5 mins. Keep the towels on the floor and where it's dropping." He gave me clean towels and left. It did stop dripping but the floor remained wet 'til I checked out the next day. This is HORRIBLE customer service regardless if you're a budget hotel or not. 
I'd suggest that you spend $50.00 more a night and actually have an enjoyable place to stay. I travel to NYC 2-3 times a year. I will never stay at this hotel ever again.