Good location but hotel could have been better
The location of this hotel was excellent. It was about two blocks from Times Square and around the corner from the Westway Diner that serves great and inexpensive meals. 
The hotel itself was fairly ordinary. The room was small, and as a family of four, we would have struggled for space if we had taken 4 suitcases. I never felt entirely confident that the room was clean. The bedspread had a white stain on it (!) and the sheets had old stains on them. The bathroom had been updated, but again the towels were very thin and old. The carpet was dark brown and looked dirty. I would have been concerned if I had a toddler crawling on it.
The bed itself was super comfortable and I slept well during the stay. I didn't find it noisy at all.
Bathroom was very clean with some basic toiletries and well attended.
There was only one lift in the building and like others have said, it was infuriatingly slow.
Breakfast was included in the room rate and was quite an experience. The breakfast itself was good and I especially recommend the waffles. However the dining room was so tiny, we often could not sit together as a family of four. I found this to be quite stressful in the morning, as I'm not sociable until after my first coffee! There appeared to be no good time to find a table except perhaps very early, before 7am.