I have stayed in these during the last 6 months -
FS Times Square - love it for vacation stays. close to theatres, etc - no cabs needed! wonderful energy & lots of restaurants close. no elevator issues. works out well if it is a "girlfriend getaway" or if I am with others who do not like the subway. When you are taking people to NYC for the first time, they all love this place! As a Plat I am always upgraded, too. I will be there again this weekend.
FS Financial - not so convenient to theatres - but close to Ellis Island, and a subway stop is close, too. weekend rates are usually good - so if you are paying, and do not mind the subway, it is a good choice. if you have to cab everywhere - what you save in room rate will be eaten up in cab fares!
FS East Side - I love this hotel, but the location is not the best for me. Great if you love older, historical type hotels - rooms are small but nice. Staff is wonderful. CL has a lovely roof toop garden for spring and fall. Will do more walking if you stay here - but it is very nice and I always enjoy it.
CY Midtown East - again, staff is great and rooms are large. if walking is ok with you then this is a pretty good location. i use it less now since it has been rated higher - can often get into a FS for close to the same price. big advantage to this hotel is the size of the rooms - especially the corner ones.
I also understand Ren TSq is quite nice, but I have not stayed there.
Everyone is different of course, but I do not find it worthwhile to stay "outside" the city and travel in - especially if you plan to do dinners, theatre's etc - too mcuh back and forth, too much time wasted, costs more than you think!
remember one thing when using tripadvisor (and I do, all the time) not everyone who uses it is an experienced traveler - so there idea of "great" may be far different than yours....
have a nice trip -