I live (Monday - Friday) at 57th & 6th so have been to most of the restaurants in the area.

For a great steak - and incredible shellfish, there's Shelly's New York on 57th b/w 6th and 7th. They have live jazz upstairs every night except Mondays. It will run a bit more than $50 pp, but so will just about any good steak dinner in NYC.

For Italian, there are hundreds of great choices but one I like is Bello , where we recently had an FT Do courtesy of dhammer53 and Catman. It's at 56th & 9th. Excellent food at very reasonable prices - you might well get out of there for $50 pp if you don't order expensive wine.