Stay the hell away from here.
Seriously -- New York City is a great place to visit once in your life, but away from the glitter of Times Square and the hustle and bustle of the city's streets, the place is really a dysfunctional toilet.
If money is not a major concern, I would suggest you stay somewhere in Midtown Manhattan where most of the major attractions are, and where you'll be able to get around easily via taxi or subway.
If you're looking to save money, you might consider renting a car and staying in an outlying suburb with a train station (NJ TRANSIT in New Jersey, Long Island Rail Road in Long Island, or Metro-North in Westchester) that will allow you to get into Manhattan in less than an hour each day.