Stayed 3 nights. Admit we booked on basis of finding a cheaper quality hotel close to Downtown. What everyone says about the location is true - easy ride to Times Square. Its in an unusual neighbourhood - lots of old warehouses/industrial units being renovated and some made into flats and hotels. Didnt feel unsafe at night and there is a 24/7 corner shop nearby and a Chinese takeway. Most residents very friendly. Staff at hotel 100% friendly and helpful.
Downsides: no good to excellent eateries nearby. Hotel required cash up front (not credit card) for any extras. That left me $100 dollar out of pocket for 3 days. Breakfast (free) very basic and also extremely crowded breakfast room. Only one lift which was slow at peak times. Room very small (for two double beds). One was crammed against the a/c. Wires hanging from ceiling where a smoke alarm had been disconnected. Hotel had a "yet to be finished" feel about it.
Would stay again but would first search for any similar alternatives offering such good value for money