Not as good as it should be for the money...
We stayed at Dream for two nights while visiting NYC in September. Overall was our stay was good, but it defintiely could have been better. The location was great. If you are looking for a place that is within walking distance to many of the city's attractions, then I would definitely recommend it based on that. The service checking in and out was fine, but the Bell man was awesome (best part of our stay). I definitely want to share that the rooftop bar that they boast about is actually a club and has different management. We were harrassed many times in the lobby (just trying to go to our room) by the bouncer because he didn't want us going to the bar without going through the door bouncer. We had sever encounters with the bouncers in the lobby, and that was the most frustrating part of our stay... If you plan on going up to the rooftop bar on a Friday or Saturday night...then you need to A) Dress to impress, and B) Make a reservation (AKA Bottle service). We never had the chance to even go up there because the Penthouse level is locked off from guests otherwise. Also, we had a service person barge into our room on an occasion thinking we had something wrong in our room (we didn't)...
The room was pretty sparse and modern and had some nice lighting touches. We stayed on the 10th Floor and could hear some honking from the street early in the morning, but overall it was ok. The linens were clean, but bathroom could have used some extra TLC. 
Would I stay here again? Probably not...