It was cheap and a good location...but!
We needed a place to stay for our last night of a 6 week trip in the US so I just wanted a cheap option and the Penn is that. It is a large busy hotel with a good atmosphere and good staff. Our rooms were as large as any we stayed at in the states (unusual for NY) and the location is great. It is just old and looks and feels worn out. Tiles and bath enamel chipped, mold, old appliances and outlets - it felt a little dirty. I wouldn't plan to go there for my holidays, but for a cheap room and bed that you don't plan to spend much time in it is probably as good as any in NY.