If you want to stay in Manhattan when visiting, there is no such thing as an 'cheap' room; even a bed in a hostel is around a hundred bucks. So I can't say I had high hopes for this hotel when I found it; I reserved a room because it was affordable.
I was very pleasantly surprised with Midtown West, however, and would recommend it whole-heartedly. Rooms appear recently fixed up and painted. Great shower and very comfortable bed. Location is basically next door to Madison Square Garden and Penn Station. No elevator, but that is only a problem if you don't pack properly (i.e. trying to bring everything you own). And the staff was truly caring and attentive; in fact, at my initial check-in there was a snafu and they put me in a room that wasn't cleaned. Very quickly the manager himself personally attended to the issue, and moved me to a wonderful and clean room.
While it would be hard to call it 'inexpensive', it was defintiely cheaper than any other choice on the Isle of Manhattan. I was happy to find them and hope to stay there again.