We stayed for 5 days on a family vacation; me, my wife and 2 teenagers. The rooms were very clean and a good size, by NYC standards. The staff was excellent. It is located in the financial district and my suspicions is that it is a lot less busy on the weekends. Complimentary breakfast was nothing over the top, but certainly adequate and better than many places.
It is located within an easy walking distance to the subway - about 4 blocks. If this is your first time to Manhattan, the subway system is good and you can get to mid-town without any difficulty. If you want to take a cab, about $20 one way. You can walk to Wall Street and Ground Zero. SoHo and the Village and be reached by walking or a short subway.
This hotel is an excellent value. If you are into a pure theatre experience, you may want to look a little closer to mid town. That being said, I would go back