Going to keep it simple. Pros:
Location, Staff, spacious rooms, quaint, sexy lounge with fireplace, restaurant, ambiance, great music, diverse/sophisticated
Cons: Mattresses (not the best quality, but I had a restful sleep), windows are not sound proof (the sounds of the city did not bother me, but may bother others), updated, but still somewhat tired.
Overall, an excellent stay, especially in New York City. Big bang for your buck.