Ivy's room is one of the best I've stayed in my many visits to New York. The bed was very comfortable, and she provided me an extra heater so I didn't have to rely on (the oft unreliable) city heat. The bathroom and common area were nice and clean, and the linens and towels provided were nice and soft. It is a quiet building, and even though the room faces 2nd Avenue it is not too loud.
The location is excellent, and I found many delicious restaurants within a few blocks. Tacos Grand Central right downstairs makes a yummy chorizo burrito, and El Pote across the street serves affordable and delicious Spanish cuisine. The location is very close to Grand Central, so I was able to easily access the subway and trains. I also visited the New York Public Library because I'm an architecture buff, and it was a short walk to there and Bryant Park, which has many delicious food carts.
Overall, this is an excellent place to stay. I will certainly book again next time I visit the city.