Recently renovated!
I read the previous person's review after I had already booked the Sheraton and I was very worried. The woman at the front desk explained that they recently went through a renovation so maybe that person got an unrenovated room. Fortunately, I was able to stay in a beautifully decorated and functional room. I even sorta had a view of Times Square.
I'm not sure if the renovation is complete, so make sure when you check in, you ask to be assigned to one that's been redone.
I also had a nice time people-watching in the lobby of the hotel... it's always buzzing, no matter what time of the day or night. Fun stuff!