Despite sullen hipsters, the Ace is A-OK
I stayed at the Ace at the recommendation of a friend, and after stopping in briefly at the one in Portland, knew what to expect as far as vibe and feel. 
Our room was small, cosy and comfortable with a HUGE original work of art on the south wall. It bordered Wall St on the north side so got plenty of street noise. One of those days featured a parade of dump trucks working the adjacent property, but not a huge deal (as we expected city noise at a city hotel) but bleepin' bad timing for that day.
The Ace isn't going to be for everyone; it has the usual conventions but they're packaged in a unique blend of artistic fortitude and stubborn independence. There's a serenity to the atmosphere and a deliberate attempt to keep things unconventional... conditions that are ideal for some classic hipster sightings. Hotel staff are friendly and welcome, but the clientele are definitely doing their best to keep to themselves. We saw more dudes dragging themselves around in sullen displays of indifference. I've never seen a breakfast room so full of people trying their best to pretend they were eating alone.
If you're booking a room, there are options for a shared bathroom or a deluxe with your own biffy. Do yourself a favour and ask for a room away from the road. Soak up the artwork and the beauty of the differences that the Ace provides.
And if you're a fan of Portlandia, google their parody of "The Deuce Hotel"... it's bang on.