Where do I begin? This is surely a case of a mixed review: the good, the bad, the ugly and the cliche (sorry!).
The good: location, location, location: a few blocks from the Empire State Building, next to 5th avenue, Flatiron, Madison Square Garden. I was able to see everything on foot - it is, in fact, right next to the Museum of Sex, a fact that I "forgot" to mention to my grandparents! It is also cheap and has free internet.
The bad: it looks dodgy. I had no problems during my stay, but I nearly changed to another hotel when I first checked in. The bar next door has very loud music, clearly heard at night. It also had its share of the bedbugs that have run over NYC.
The ugly: the decorating (think college dorms, with weird colours and bad posters). the outside has weird sculptures.
Would I stay there again? Perhaps - I needed a place to crash, but if you plan on staying in your room for anything more than sleeping and showering, then stay somewhere else! A lot of students made for an interesting atmosphere.
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Theme: Hotel
Comparison: least expensive
Prices: US$20-40
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Address: 7 E 27th St, New York, NY 10016
Website: http://www.gershwinhotel.com/