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For what? If you're visiting for the weekend I wouldn't stay there - go downtown where there is more shopping/local restaurants/things to do. If you're looking for summer or FT housing and found a great deal, that's not a bad area but there's not too much going on besides office work. Close to work if you're in midtown, and very commutable to anywhere in the city.
For reference that is on top of Grand Central Terminal / a lot of office buildings, so food in the area is heavy on chain lunch spots, many of which are closed on weekends, and it'll be busy on weekdays with office folk but pretty quiet the rest of the time.
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