This hotel is in new jersey across the river from manhattan.There is a bus stop right outside the door which will take you into manhattan-this however could be a slow trip.
It is a typical embassy suites but whatever you do dont book a 1 bed nonsuite room.These are tiny,funny shaped rooms with very little light that barely fit 1 double bed.We stayed there 1 night in september as we had an early flight out.I really think if you want to experience new york it would be better to stay in manhattan but I agree hotel prices there have become very expensive.
There are a couple of restaurants nearby.An outback steakhouse is next door.However i think it would be better to eat in manhattan.Much greater choice.