I stayed for a girls' weekend in this hotel with my company's corporate discount, which was about half price. I don't think I'd be happy if I'd paid much more for it, but for what we needed, this was fine. We had a "Diplomat Suite" which I think simply meant two twin beds. The bathroom, as mentioned, is tiny. There isn't enough shelf/counter space for two women to adequately spread out. Plenty of linens though and we had no problem with hot water. We were less than 10 minutes to the theater and the restaurants where we had made reservations, which was helpful on the terribly rainy nights. You can walk to just about anywhere of interest and subways are nearby as well.
The room was average size and clean, except for a stain on one of the comforters. One elevator was out of service, and the tiny (barely holds two people with luggage) second elevator was constantly in use, so we waited a lot to get to the 8th floor. There is free WiFi throughout and free use of the computers in the lounge, with printers for printing your boarding passes, etc. I found the front desk staff to be friendly but didn't really go out of their way for anything. When I had trouble hailing a cab to LGA, they offered their car service for $60 but would not call me a cab. I did finally hail a cab which cost $31 total on a Sunday evening.
I'd stay here again only to save money, but wouldn't recommend it at full price to either business or leisure travelers. I've stayed in more agreeable hotels in NYC. Visitors would be well-advised to remember this is a no-frills business hotel first and foremost; first-time visitors to the city may be put off by the lack of tourist amenities and personal assistance.
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