We booked the NYLO due to its location to Central Park and our plans for NYE. However once we booked and the more we researched the area the happier we were with our decision.
Located in New York's Upper West Side, NYLO is within walking distance to three subway stations (we found the red #1 on 78th street the most convenient and the closest walk), within close distance to a huge selection of places to eat and stores to window shop in (unfortunately I didn't build more shopping into our schedule).
While we never spent any time in the bar or lobby, it was always busy with people catching up for drinks or relaxing after a day of sightseeing.
We stayed in the the NYLO Superior for 8 nights all up (two lots of 4). Most people seem to complain about the size of the rooms but we found it more than adequate, my only complaint would be the bed was raised off the floor and might be difficult to get into if your short (I'm 5'7 or 170 cm).
Overall we enjoyed our stay here and it was perfect for our needs.