Hotel 31 at 120 East 31st Street, New York, New York.

A quaint little hotel near the heart of Manhattan, Hotel 31 is near access to everything being just a less than a mile to Times Square, and less than a block from a subway station.
Accommodations are nice as well. It's small and snug which will make you feel right at home. Noise from the street was not that much of an issue. You'll hear the occasional faint horn or siren, but nothing that would keep you up at night.
The shared bathroom situation was not what I was expecting, either. Each floor has two bathrooms with showers which are shared among the rooms. However, there was never a line or a wait for any bathroom and staff regularly cleaned them so you never had to worry about how someone else left them.
Overall, it was a quaint little stay that made us feel right at home down in the big city.