Good points and bad points!
Stayed in the Paramount for 7 days in early January. On the whole it was a good experience - the hotel is in an excellent location, there's loads to do nearby and it is also easy for getting around to explore the rest of the city. However, the rooms are incredibly small - we wwere in a double room, but the bed was tiny so we enquired about a larger room, only to be told that the beds were that size because it was a boutique hotel! I have stayed in many boutique hotels over the years, and all of them have had a full size double bed, no matter the size of the room! Anyway, the room upgrade was going to cost us an extra $60 per night so we decided to sleep on it and see how it went. It was actually not too bad so we saved our money for the delights on NYC instead. There was another problem with the room - the shower stopper did not work, so we reported this first thing in the morning and were told that they would send someone up right away. However, on returning to the room later that night, the problem had still not been fixed so we had to go back to the front desk again - they did send the handyman up straight away this time and he fixed the problem in five minutes, which was great! The final downside of our stay was when it came to checking out time - the bill was slid under our door, and they had charged us for upgrading the room for five nights - an extra $300! So we had to go to the front desk and wait for ten minutes while the reception staff were sorting out travel money for another hotel guest in order to get this issue rectified. The reception staff were very apologetic and removed the charge straight away. Check your bill carefully!
Other points - the Library Bar is lovely but very expensive - $14 for a glass of wine! Didn't eat in the restaurant so can't comment on that but the menu did look good. Generally a decent enough hotel though, and despite the negative points I would stay here again.