Location, price, AND free breakfast
This property would probably be considered a 3-star hotel - it's no frills but it's clean, the rooms are fairly large for NYC, the staff is extremely courteous, the location is great (a few blocks from the heart of Times Square, like a block from the Subway and Hell's Kitchen), and it has a nice breakfast that's free. I was on a work trip and I think they got the room for around $167, which is a great price for the location. There's a free coffee station set-up 24-hours and cookies out throughout the day. The breakfast includes cereal, pastries, waffles, yogurt, fruit, and I think they had some scramble eggs out or something in a warmer. High-speed internet is free and use of computers and printers in the lobby is free. They definitely don't nickle and dime you at this hotel!!
Overall it was a great stay and I'm staying there again next week when I am back in NYC for work. I definitely recommend this hotel if you want to stay somewhere near Times Square because I doubt you'll find anything comparable for the price and all the extras.
The only one thing I'd point out is that the bed and pillows were on the softer side. I still slept great though.