There are so many better options than this forgettable pit
I was in New York for business and I should have known when both my client and my colleagues asked if I REALLY wanted to stay here that I should have gone somewhere else. For the money there are dozens of better hotels in midtown. 
PROS: Excellent location on 57th Street between 9th and 10th. They have a restaurant. There is a bar. There is wifi access. Staff are plentiful and helpful. The restaurant serves an acceptable, if totally forgettable breakfast for a reasonable price. The beds are comfortable enough, though they don't exactly smell fresh -- and I'm sure aren't.
CONS: The hotel is shabby, old, grimy, and badly needs a huge refit to update it from the Nixon Administration to the current day. The room smells, well, old and musty. The air conditioner couldn't manage to maintain a comfortable temperature when it was warm outside, and its fan was close to useless. The bathroom looks like something you'd find in a bus station. The noise the toilet makes when flushed would wake someone in a neighboring building. Wifi speed ranges from average to very, very, very slow. The elevators are cramped, and it seems no more than one is working at a time. The lobby is loud, chaotic, old, worn, crowded and anything but welcoming. Being in this hotel makes you feel like you constantly need a shower.
It was nice to find when I returned from a long day to find they had swapped out my ancient 26" CRT (heavy, tube-style) TV for a beautiful 40" HD flat screen tv, but that doesn't mean it outweighs all the negatives. 
If you've never been to New York City, location is paramount for you, and you're really not picky about the quality of your hotel (you just need a bed, four walls and the absolute essentials), and you don't want to pay too much, this hotel is probably fine for you. If you want anything more than that, do not go near this place, under any circumstances. Hundreds of better hotels will make you much happier than this dump.