Hopefully this hotel has got its act together. When I stayed here, the room I was allocated hadn't been made up after the last guest had departed. On the upside, the staff were very helpful and gave me a suite with a great view.
This was just as well because the first room wasn't worth the price I was paying.
So value-for-money is the only downside here: be sure to complain if you don't like the room you're offered.
That aside it's a great hotel and, if it's your first trip to the Big Apple but you don't want to fork out a wedge for the Plaza, this is the place to stay.