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Momster, I know you asked me about this earlier and I am sorry I did not answer. I didn't answer cuz I don't know if there is such a thing as a reasonably priced hotel in NYC! I do recall that, during Unifieds, a friend and her mom stayed at the Edison near Times Square. Is that too far for you guys?
This hotel is not near NYU -- but close to the subway.... Park 79 hotel... I have stayed there a number of times and like it... it is located on the upper west side by the Museum of Natural History.
We stay in NYC alot and our goal is to pay less than $200 per night for a room
in a three star or two star hotel. We have found The Milford Plaza to be one of the best values time and again. You can also negotiate with them. Another place is Radio City Apartments. Have you checked the Bed and Breakfast websites? I have friends who stay in those regularly and love it. Just google bed and breakfast NYC. This is also a really reasonable alternative if they still offer it: Union Theological Seminary up by Columbia used to rent out rooms if available at extremely reasonable rates.