Don't Stay Here
I read the mixed reviews on this website and I thought I would risk it by going, but I really should have listened because everything they said was right. The hotel is very noisy, not good for light sleepers. I was very specific about getting a room on a quiet floor and be sure to ask for it on the side that doesn't face the subway line. Toshi's "lounge" is extremely loud and there can be some horrid singers, so you don't want to hear that all night. The waitresses at the lounge were all too busy chatting with themselves and fixing their dresses instead of providing service, so I wouldn't bother going there. 
The room itself was pretty decent after we finally got one. Apparently our original room had "frozen over" because someone left the AC on, so we had to get a different room. 
If you go through Bookit.com and you're entitled to two free drinks, be careful to ask in advance. The concierge had no idea what we were talking about and I got some vague answer about them comping it at the end, which I had to argue for when the bill actually came. The concierge in general were all pretty lax and unprofessional. 
I really wouldn't bother staying here, there are tons of better locations and better hotels to stay at. 
Also, the CHARGE you to hold your bags. We had to pay twice when we were checking in and checking out to pay for our bags at $1 per bag. I've never had a hotel that needed to charge for holding the bags for 2 hours. Ridiculous.