Excellent location, otherwise a shameless cash grab. They just put some marble flooring down, hired a doorman, give it a French name and voila, an 'upscale hotel'. Aside from the facade of an upscale hotel, everything about this place is as cheap as they can get away with for the highest possible price.
Towels are thin and old. Furniture and common areas are obviously wearing. Staff don't seem to be trained that well. Rooms are very small and the 2 queen bedroom inexplicably doesn't have a door to the bathroom. The toilet closet door is a cheap pocket door/barn door (so you hear and smell everything). The restaurant is fairly expensive (breakfast for 3 was $60) and really poor quality; cheap bulk processed eggs, thin burnt bacon, fruit that wasn't ripe, decent latte.
Was it the worst hotel stay I've had? No. But did it detract from my vacation? Yes. We have a lot of hotel options in NYC, I'll find another one the next time I'm in town, I'd suggest you do the same.