I came across this thread a little late, but Jan & Feb are super cheap for hotels in NYC. I have consistently paid less than $100/nt for the past several weeks, and mostly in Manhattan to boot. You can save a lot by booking AAA rates.
Some value properties:
Holiday Inn W 57th St (Hell's Kitchen)
Country Inn & Suites (Long Island City)
Holiday Inn 6th Ave (Chelsea)
Radisson Lexington (Midtown East)
Best Western City View (LIC)