Nice New Hyatt
Booked a three night stay at the Hyatt 48 Lex using points. The hotel so new that we had to tell the cab driver twice the name and location of it. The entrance and lobby definitely had a small boutique hotel feel, so no bellhop. The front desk staff was very friendly, given us the full list of amenities available. When I asked about whether wi-fi access would be complimentary(having just been given Hyatt platinum status the day prior). Unfortuntely, my status still showed as gold, but he offered to take care of it and that it would include access for two devices(for me and my wife). 
Elevator service is a bit slow given only being two elevators for 20+ floors. It often took a couple of swipes of the room keycard to allow us to select our floor in the elevator. Each level seemed to have only a handful of rooms due to the small footprint of the building. 
Our Lexington Studio appeared clean. The room was shaped like a narrow rectangle, making it feel small sometimes. Due to room layout, the placement of the two 40" LCDs made for poor viewing angles. When in bed, the tv is at directly 90 degrees to the bed, mount on the wall just to the right of the bed(when laying down). Fortunately, the tv does swivel slightly, less than 10 degrees. 
The decor overall was not bad, with the exception of a low quality wood veneer tv/entertainment stand below the tv. There was a nice alarm clock/ipod speaker system on the nightstand that allow for convenient iphone charging. There were two nice reading lights next to the headboard on each side of the bed. There was a small fridge stocked with a few items but with enough room to store a few our of own drinks. There was also a microwave and surprisingly nice Fisher and Paykel small dishwasher. Not sure what anyone would be washing since they don't provide any dishware beyond a couple of glasses. The Nespresso coffee maker received high marks from my wife.
The bed was firm and comfortable. The bedding is my preferred style, generic white comfortable with plain sheets surrounding it(much preferrable to the quilted unchanged ones that you have to just throw on the floor as soon as you can).
The bathroom was above average in size and quality with a glass-enclosed shower. The toiletries were below average(or so my wife says). 
The location was good with a quick walk to the 4,5,6 Lexington subway stops and Grand Central stops for many other lines.
Overall, a very good stay for New York City. Would stay here again