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The Chelsea Savoy is about as unremarkable as hotels can get. From the outside, the plain, gray building on busy 23rd Street could easily be mistaken for a bank. But travelers don't stay at the Savoy for its charm—a fact that becomes clear when one walks into any of the bland, albeit perfectly functional, rooms. (Think framed Matisse posters, floral-patterned comforters and starched sheets.) Despite its yard-sale-like décor, the hotel’s 90 rooms are tidy, comfortable and close to major subways, making hotel a well-positioned (and cheap) base for city exploration. Just be sure to ask for a street-facing room, unless you like sleeping in a cave next to a noisy elevator shaft. — Amelie Gillette

Cheap in a chic area. The Chelsea Savoy's room rates are inversely proportional to its fancy-sounding name.

Cons
Some of the least-expensive rooms are the urban equivalent to caves: dark, tiny, and next to the elevator shafts. Spend an extra $20 a night and get a room facing the street—you can afford it here.