I stayed there a few years ago and it was absolutely fine. Room was clean, tidy, and bathroom wasn't too small.
My only complaint was that we received a massive phone bill (phone was used to call 1-800 to access prepaid phone card). This had never happened to us before in any hotel, in any U.S. city we've been in and there had been no indication of this charge in our room. That said, when I spoke to them about it, they took 2/3 of the charges off the bill, so I was very happy with that.
It was a great location, close to everything in Times Square, 5th Avenue shopping, close to the subway and great for the park.
I read loads of terrible reviews right here on Trip Advisor before we left for NYC and I was worried also. The hotel was so not like any of the reviews I had read.