Nice and Affordable Surprise
I stayed at this hotel in June for $160/night, which was significantly cheaper than other Manhattan hotels. The hotel is new, clean, and very comfortable. 
Before you book this hotel, you need to understand that you are reserving a "POD" hotel room. The room is essentially 150 square feet, which includes the bathroom. The bed doubles as a couch, and is similar to an electronic Futon (Bed wasn't comfortable by the way). The bathroom and bedroom are separated by a semi-transparent curtain. The hotel rooms would be too small for families or more than 2 people. Furthermore, if you are staying in the room with a friend or someone you are not close with, expect to lose bathroom privacy. If you are a couple or single person, this room is more than adequate as a hotel room.
There are a few positives to this hotel that I'd like to point out. 
-The hotel is right next to the Lincoln Tunnel, which makes it convenient for anyone driving into the City from Jersey. However, it is a good 10 minute walk to the heart of Times Square and the subway. 
-I loved the rooftop lounge, which had beautiful views! Make sure you go there.
-Free internet in all the rooms