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The lobby of the Helmsley Park Lane echoes with memories of its glorious past. It's easy to imagine a fur-laden Liza Minnelli or Grace Jones rolling in after an all-nighter at Studio 54, or Leona Helmsley strolling the premises belittling the staff and filing fuzzy tax returns. The problem is that for a so-called luxury hotel, the Park Lane hasn't done much to stay luxurious. The once-fancy façade now looks tacky and outdated. Even the outrageous painting of the late real estate developer and philanthropist Harry Helmsley is a reminder of a bygone era. Still, the appeal of a Central Park view (the hotel sits on Central Park South close to the Plaza) can't be denied, and many of the rooms are spacious and well-appointed with newer amenities like high-definition televisions. For now, there's a hotel lounge, Harry's Bar, named for the former owner; a restaurant with a wall of glass windows that overlook the park; a seasonal open-air café; meeting rooms; and a ballroom available for rental. — Chris Strauss

Central Park views and a prime Central Park South address.

Cons
It's showing its age.