Beautiful hotel with a friendly staff
My wife and I just returned from our first trip to New York. We ended up staying at the Grand Hyatt and we were thoroughly impressed from our first step in to our last. The lobby was going through a little construction, but they had curtains up and kept the noise down. Checking in was easy and quick. We were on the 25th floor and our room faced 42nd street. They have two sets of elevators, so people on higher floors are not waiting for a long time. We never had to wait longer than a minute or two for our elevator. The room was beautiful, with only a few minor misses, which will be mentioned below. The shower was excellent. The bed was comfortable. The windows actually open. Well appointed furniture and excellent bath products. We ordered room service one night and the food was excellent. Staff was prompt and courteous. There is an entrance to Grand Central directly from the hotel. 
The only issues we found were - 
- There is no coffee maker in the rooms. Rare to see a room without a coffee maker today.
- There was a lamp the sat near the couch that was completely in the way when trying to get to the couch or the window. It curved over the only walkway and both my wife and I had to duck to get to the couch and window. 
- The bathroom door had some paint peeling.
All in all, we had a wonderful time in New York, and the hotel, and its location, had a lot to do with that. You are within close walking distance to a lot of the tourist attractions, but you are far enough away from Times Square to not have to deal with the endless noise and people.