1. downsides - none at all - having read previous reviews yes there may only be one lift in the hotel but our longest wait was 2/3 mins and we were on the 8th floor (there are 9 floors) - but when you're on holiday who is rushing, and yes you may have to wait on a table for breakfast (our longest wait was <5 minutes) but for the centre of Midtown Manhattan this was a perfect choice at a perfect price.