Troy's place is very conveniently located close to Broadway and many, many restaurants. Bryant Park, Rockefeller Center and Central Park are all within walking distance. Penn Station's not far either if you need to get to and from Newark airport.
The room itself was great for what we needed: a place to sleep and store our things. It was a bit small, but so are most living areas in New York. I thought it was very good value for the price. We actually stayed in the larger front room of Troy's place, so we heard a lot of street noise at night. Luckily, Troy provided earplugs so I slept just fine. The bathroom in the room was clean and everything needed for a weekend trip. Overall, it was a great place to stay and Troy was a great host!