Manhattan is very expensive, and this hotel was considerably cheaper than most others (booked through lastminute). Don't expect luxury though (you do get what you pay for!) The room was huge and air conditioned, but it felt a bit shabby and not as clean as I would have liked. It is in a great location in Midtown, a short walk from Grand Central station. The streets around felt very safe. It took us about 35 minutes to walk across to the west side of the island where the boat trips leave from, and 15-20 mins to Times Square.
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