Everything I Expected It To Be
The rooms are small, but I expected that in New York City. We were traveling with our 1-year old and all her stuff, so that made the room feel even smaller. But as anyone with a young child knows, cleanliness is so important when traveling. I never felt grossed out with her walking around on the floor in the room or giving her a bath in the tub. The hotel appears to be kept up nicely.
There are only 6 rooms on each floor, but the hotel is 36 floors high, so as others have stated, the two elevators can get a bit backed up. We never waited more than a few minutes for a ride though. Breakfast was busy, but we found a table each morning without any issue. They really do aim to please at this hotel. They provided us with to-go bags for our breakfast when we were eating on the run. We also had a dirty comforter and it was replaced within minutes of asking for a clean one. 
The location of this hotel is perfect. We walked everywhere. It's about 10 minutes to the heart of Times Square. About 15 minutes to Rockerfeller Center. And about 20 minutes to the West Village. 
Despite the small room, we would most likely stay here again. We got a great deal on the room, making the small room not seem so bad!