The Sheraton Russell is also quite nice; when I am staying in the city, this is where I stay. It was built in the 1930s as an apartment building, but has been converted into a hotel. It has a very nice ambience. It is located on Park Street between 36th and 37th; 3 blocks from the 6 Train 33rd Street Station, 5 blocks away from Grand Central (4, 5, 6, 7, and Times Square Shuttle trains, as well as MetroNorth). It is about a 10 minute walk to Herald Square/Penn Station (34th and 6th for Herald Square, 34/7 for Penn Sta.), and about 15 minute walk to Times Square.