Small but clean ... would stay again.
Stayed for 4 nights in two different rooms. Three nights in a room with two twins and a 4th night (with more people) in a room with two doubles. 
Positives: The rooms are top notch clean. We were on the 19th and 22nd floors and had no problem sleeping-in until 10 a.m. on two of the mornings (traveling with teenage son!). The beds are very comfortable (soft). The air conditioning worked in both rooms and were easily operated and adjusted. The bathrooms were totally fine. The rooms are of european size ... small. The location is perfect, one block from Times Square and a subway line. Valet parking is $43/day (incl taxes; no in/out allowed) and there is lots of room at the front of the hotel to pull up to the front door. Very friendly door, front desk and housekeeping people. A room key check of all people entering at the front door at night until about 1 a.m. adds to the security of the hotel. Neat elevators ... you punch in your floor number and an elevator is assigned for you to wait beside. Free baggage storage on the day of your check out. Tim Horton's coffee shop about a 10-15 min walk on the south side off Times Square past TKTS.
Some of the negatives. Long line up to check in/out and to get your car out of valet parking (all same line with avg wait = 20 min). There is a charge of $1 on all calls no matter if you use a calling card or not. You can estimate an additional charge in taxes/fees of about $30 on top of a room rate of $170. Very busy lobby. Access to check-in is via an escalator, only one elevator up to check-in for those unable to use an escalator. Housekeeping knocked on our door at 7:45 am one morning while we were still sleeping.
Tips: You might save about $8/day on parking if you park the car yourself. Look around. This hotel is very easy to drive to once you come through the Lincoln tunnel. When driving in NYC always give way to pedestrians ... no matter what ($130 fine when you don't ... this was my welcome to NYC). Use the Bubba Gump Shrimp neon sign on Times Square as a locator back to the Milford.