Staff makes up for annoyances
Dream Downtown is a beautiful structure in midtown Manhattan. I have not been to NYC before, but have been to many US and Int'l cities, and live in the San Francisco Bay area, so my expectations were reasonable based on the price. 
There are some minor annoyances in the general design of the rooms. A lighting design flaw results in all 5 room lghts being on or being off - no selective lighting. The loft design makes the rooms feel bigger, but places some storage shelves out of reach for a 5'4" person and kids. The thermostat does not cover a temperature range, so one degree below room temp gets you a/c, while one degree above gets you heat. Finally, there shoud be a fan in the bathroom, which steams up easily.
The employees, however, have been the most kind, helpful, polite hotel service people I have encountered. From the bartenders to the pool lifeguards to the maids, everyone has made us feel welcome and attended to. A special shout-out to Kevin at the front desk, who has gone above and beyond. This hotel style seems to attract a younger, more fashionable crowd. We are two 40-something Moms traveling with our 10 year old daughters. Yet the staff remembers our names, always inquires about our adventures, and responds quickly to our special requests (such as removing mini-bar items so we can use the fridge.)
The location is fantastic, near transit and the amazing Chelsea Market. While I would probably enjoy another hotel if I return to NYC (just for a dfferent experience), I also would not hesitate to stay at the Dream Downtown again.