We stayed at the PH NYC for both new years eve and new years day using my 2 free night Chase certs.
Despite coming straight from the airport in blue jeans and tennis shoes, we were warmly greeted by a doorman, led inside to a lady with an iPad there at the little kiosk on the right, and she took us up to our room on the 11th floor--a nicer check-in I have never experienced.
We used the house car (MB GL350) several times and Ramon was excellent!
I also spent a fair amount of time getting to know 2 of the doormen outside while we waited for our Lyft/Uber drivers, and they were both great guys.
We had reservations for meals all throughout the city, so we didn't eat/drink at the hotel.
Easily well worth the 2 free nights. I'm not sure I'd spend $700+/night for the room, but I feel I received excellent value for the Chase certs.