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 As noted elsewhere it's hard to answer this without knowing more about what you want to see and do, but going only on "Nothing too expensive, but in decent range to see the good sights." I'd say either anywhere in Manhattan below about 57th St., or somewhere in northern Brooklyn like Williamsburg or Greenpoint. 
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 Once you decided what lines you needed you just went to the station and off you go. Once we walked out of the hotel we pretty much did not go back except to sleep. So it was not a huge issue for us. By the time we got on the plane back home we were exhausted. This was my view for $120 a night. Seems they let Austin Powers drive trucks in NYC. It took this cat 10 minutes (1 hours NYC time) to get this truck backed in. https://photos.smugmug.com/NYC-2018/..._090157-XL.jpg  | 
		
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 View from the hotel ↓ http://forums.pelicanparts.com/uploa...1637102252.jpg http://forums.pelicanparts.com/uploa...1637102252.jpg  | 
		
 We stay at a Holiday Inn On 26th St. Between 6th and 7th, It's 15 minutes from Times Square, the subway is a block away. We were able to walk to a lot of attractions from our hotel. The hotel room is small but is updated and clean. 
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 I’ve lived in the city and stayed in a bunch of hotels FWIW. 
	Stay in Manhattan. Forget staying in a borough. Getting home is a PITA. Downtown is dead at night and I wouldn’t stay north of 60th street as a tourist. Find a boutique hotel unless you get a deal at a decent chain. I like the giraffe or the dream chain personally. Ymmv. Holiday inn level standards are awful in NYC. Avoid like the plague. Chelsea isn’t bad. Chinatown hotels are horrible. Times Square area is ok but busy.  | 
		
 Here in Brooklyn for 31 years or more.. who's counting? Since I live here, I haven't stayed in that many hotels here & cant really give advice on the topic. Most of the advice seems pretty sound. Pick a neighborhood you like - that has things you need to visit, food you want to eat, a good coffee shop etc. . I would lean toward smaller hotels and non-touristy locations even consider a business hotel like near wall st. or something in the more night-life-active neighborhoods of the East Village, Lower East Side / Chinatown, West Village, Soho i'd even consider Williamsburg or L.I City.    Times Square has one of the highest crime rates in the city of Manhattan, mostly petty crimes preying on tourists.. Nothing to really worry about but I find that area annoying to walk through, but you gotta walk through one evening with all the lights humming if you've never seen it. Also, take one of the East River commuter ferry's down the East River and back up again ( NOT the Circle Line ) its a nice view of the city from the water and you can visit the neighborhoods along either side of the river Brooklyn is pleasant to get to this way. You might even consider staying on the Brooklyn side of the river as Mike suggested. Anyway, the ferry is the best $4 you will spend. 
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 Well that's enough on where you're going to stay ;) 
	Lets talk about what you are going to do. The first thing is a Circle Line Tour. A boat ride around Manhattan Island. Amazing! https://www.circleline.com/?locale=en  | 
		
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 Since one of the best things about NYC is the food, I have a food comment: 
	We ate some really great food while we were there but we were really disappointed by some Dim Sum we had. We went to Chinatown and tried to get into Nom Wah Tea Parlor but got tired of waiting so we went to House of Joy. They both rate good but my wife and I both agreed that Fung's Kitchen in Houston is significantly better.  | 
		
 Also since its limited as to what you can do at the Statue of  Liberty ( the crown is closed) 
	One of the best and least expensive ways to "see" the statue, is by the Staten Island Ferry.... and the price is right Quote: 
	
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 ^^^ I took that...(staten island ferry).   One of the best things on that trip. 
	Another favorite was the Wall Street building tour. Was able to watch the trading from the balcony.  | 
		
 I think the locals call it "New Hampshire" 
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