Comfortable rooms, convenient location
I booked this hotel through priceline and was initially skeptical about the location/quality of the place. But the hotel turned out to be very convenient to reach. There are a lot of subway stations with different lines nearby, making the whole of NYC accessible without very many changes. Wall street and Freedom towers are also within walking distance. The shopping area of Prince street is also very very close. You can also check out the hustle and bustle of the Chinatown which is practically next door.
The room we were given was comfortable and cozy without being extravagant . The bathroom was spacious and spotless and the bed was great after a hard day touring around NYC. The wifi is free in the lobby and you can get free B&W printouts. The staff at the front desk was sufficiently helpful. 
I would recommend this hotel for stay near downtown NYC if you can get the cheaper prices online.