I stayed here last month during the pleasure portion of an extended holiday. The "library"/lobby is gorgeous(your personal kitchen) and rooms are huge.
Rooms are spacious and feature exposed brick and comfortable beds. My only complaint was a lack of channels with their DirectTv packages, but isn't that always the case. The bathroom was decent (no frills, but a larger shower and tons of extra amenities around--never happens, right?). Dust off your old ethernet cords!!!(hotel offers ethernet, but wifi is only available in certain areas). I very much enjoyed the Victorian room(especially its toned down decor) and slept like a king in its bed.
The library/lobby: is your personal kitchen and library, including books, magazines, travel inspirations. Additionally, the staff here is prompt and very helpful(a plumber was called w/o hesitation right when I mentioned an odd furnace in my room). Breakfast includes scrumptious pastries, hot water/tea, fresh fruits, juices and (I think) coffee.
The area: I generally dislike Chelsea, but I love its central location. The Inn is perfectly situated for cheap taxi rides Anywhere! Great subways(often more $) are also nearby(including right up to most broadway/off-broadway shows). The hotel is semi-close to the amazing shopping in Soho(check out Vince, if you're a man who needs pants... heaven!). Cheap gym or two w/in 1/4 mile on 23rd.
For food, I highly recommend going to East Village/ 2nd Ave, where this reviewer grew up, and enjoying endless amazing restaurants there on St. Mark's Place, especially if you need a NYC ethnic food fix(there's also up and down Columbus and Amsterdam up around the 70s). I highly recommend Ports Coffee over Joe the Art of Coffee; there's also Eataly and Patsy's Pizzeria; Lenny's for to-die-for(literally) ruebens; Chelsea Market for amazing breads(and amazing fruit tarts at the bakery before Amy's Breads).
I would definitely stay here for any extended stay in NYC, because hotels are like golddiggers -- not to be tolerated for too long :-) For the price(~ $200) and the spaciousness, how could I not give The Inn 5 stars!