We've stayed at Hotel St. James twice in the past 3 years. Its location can't be beat for the theater district and Times Square. Price-wise it's about as low as one can get in the area, but you only get what you pay for.
The rooms have been renovated but are lacking in many ways. No shelf or hooks in the bathroom, so you have to place toiletries and clothing on the dresser outside the bathroom. Small pedestal sink, so no room for storage on a counter. Water temp was too cold most days. Sometimes it was hot for a couple minutes, then became lukewarm -- it didn't matter the time of day.
One chair in the king room but no table. Not enough outlets for charging, and no USB ports in the nightstand lamps, which has become standard in most hotels. While location is great, the noise outside facing Times Square was extremely loud and disruptive.
The worst part was that 1 of the 2 elevators became out of service after two days. This also occurred on our previous stay. This meant we had to walk down 7 flights of stairs or wait forever for 1 tiny elevator, which also was used by housekeeping and held only 6 people but often was filled with housekeepers and their carts. This meant daily waits of several minutes. On check-out day, where we had luggage that could not be carried down 7 flights, we had to wait 4 times as the elevator was full every time it stopped on our floor. The staff was nice, but the recurring elevator malfunction means we likely won't be staying here again.