It's all about the location
Stayed here on a weekend. About 3 or 4 blocks from central park. On the same block as the MOMA. A few blocks from Rockefeller Center, and walking distance to Grand Central Station. This hotel has a fair amount of interesting history with famous Hollywood residents. The hotel lobby is nothing particularly special. The room was a typical standard city hotel room, small and nothing particularly unique about it. We had family in the hotel that upgraded to a suit for not much more and the sitting room alone was twice the size of our room. I would go that route next time probably. 
Great spot if this is the area you want to be in. Decent breakfast buffet.