is new york new years eve possible on a budget?

I'd suggest trying priceline for a hotel asap, since alot of the hotels are going to be either sold out or have hefty price tags over the holidays. Try finding a hotel outside of the Time Square area for better pricing too. There are alot of hotels in the city that have opend recently so there should be availability.

You might check The Ace hotel on 6th Ave and 29th ST. It is new and not well known yet, and they have been running specials.

Also The Marakish on Broadway at 103 was rennovated not long ago, and is well priced.

You also might try some of the discount hotel websites like www.travelocity, www.hotels, www.expedia. Some have been offering deals with air and hotel.

There are special events all over the city on New Year's Eve that are low cost and no cost, and as we get closer to the holidays we can give you more ideas but I can get you tickets to a FREE concert (you would have special seats, hence the need for tickets) at St. John The Divine, which is an amazing concert each year "The Annual Concert for Peace" several thousand in the audience, 150 singers, and special guests from Broadway and the Opera world. The concert starts at 7pm and we are usually out by 9 so there's still lots of time for more celebration. Several other fodorites are coming to the concert as well.

Hope this helps a bit and let us know if you have any other specific questions.

Well, it is possible. Look at Priceline for a hotel, or stay outside of the immediate downtown area. IF an option Big Apple Hostel is a superb location. If the single bedroom is already sold out- which probably is, then you can book yourself a 4 bed dorm for about $175/night. I stay here frequently and alway book the whole room.

Start here:
http://www.eurocheapo.com/newyork/

Book ASAP!!!

How many nights are you thinking?

Hotels are expensive and are obviously the biggest chunk after airfare. I would consider some of the smaller hotels w/ shared bath.

There is LOT you can do for free in NYC:
Walk the Brooklyn Bridge
Staten Island Ferry and view the Statue Of Liberty
Neighborhood Walks
Free movies
Free concerts
Central Park
Window Shopping
Free Cruise (well It's theIKEA Ferry, but its FREE) http://info.ikea-usa.com/Brooklyn/StoreDirections.aspx
Also free Ferry to Govenors Island (which has free bike rentals on Fridays)
Even Free Kayaking - http://www.downtownboathouse.org/

Countless free tours
http://www.bigapplegreeter.org/02-how_spend/00-how_spend.html
http://grandcentralterminal.com/info/historictour.cfm
http://www.newyorkfed.org/aboutthefed/visiting.html


There are also a LOT of cheap eating options:
http://streetvendor.org/vendys/finalists
http://www.veselka.com/
http://www.max-ny.com/
http://www.pommesfrites.ws/
http://www.caracasarepabar.com/ie_index.php
And MANY, MANY, more...

Where can you get the St. John The Divine ticketc?? I am again going this year and haven't made it there to see the concert. I also like the fire works in Central Park on New Years Eve. with the marathon.

Since I am one of the singers, we get tickets for friends and family to sit in a special area. I can get a total of 10 tickets and 5 are spoken for so if you would like tickets, please let me know.

I have to disagree with the reco for the Marrakech. I Know they keep saying they are redoing it - bit it was/is (?) really a hostel and there have been numerous reports of unclean and verminous conditions.

Unless it is under completely new management and have been gutted I wouldn't touch it with a barge pole. Also to be avoided are the Carter and the West Side hotel and Hostel. The Newton has some rooms iwth shared bath that are quite inexpensive and is reliable.

I went IN to see teh Marrakech recently and the whole hotel has been redone. The lobby has a nice bar area now, and the rooms I looked at were clean and updated. I also asked a couple of people in the lobby who were guests if they were happy with their rooms and got positive responses. I would never recommend a hotel that I had not checked out.

It's possible to renovate the public areas of a hotel and even some of the rooms and still not be operating a legal hotel. As I warned in my post in January, the Marrakesh does not have a hotel operating license. So I'd avoid it, whether the lobby is beautiful or not. Here's a link to the post I made earlier this year: http://www.fodors.com/news/story_3294.html

I don't think anyone has asked you the question WHAT about NYE in NYC has been the dream? Are you thinking about going to Times Square???? (oh, no) Are you wanting to go out dining and dancing? That's very expensive. My best advice for a budget NYE is to arrive on Jan. 1 or 2 when hotel prices drop, airfare probably drops, Xmas decorations are still up and on the sales are on.

Hotel rates are crazy on Dec. 31 even at places that are reasonable the rest of the time. My favorite hotel in Midtown is getting $240 pre night in late December, $410 per night on Dec. 31, and then $110 per night starting on January 1.

Since I am one of the singers, we get tickets for friends and family to sit in a special area. I can get a total of 10 tickets and 5 are spoken for so if you would like tickets, please let me know.

I would love to get 2 tickets!!!! If available, I would like to be considered for any extras you may have.

Is it your dream to do NYE in NYC, or to have your birthday in NYC (or is your birthday the 31st?)? If you can at all let go of having to be there on the 31st, you will save a ton of money. A January visit will be substantially lower airfare, hotels, etc. (But if the dream is to be there on the 31st, then go for it. It will be worth the money if you've been wanting to do it your whole life. I have yet to regret the $$ I've spend on any trip!).

Oh and the Pod hotel is another budget alternative that people really like. In the FAQs on the Lonely Planet "Thorn Tree" board, there is a list of favorite budget hotels. I wonder if they're all booked for NYE, though. You know, if you flew in the 31st then stayed into the 1st week in January, you could take advantage of the lower, post NYE hotel rates, and plane fares would be lower than if you tried to come, say, from Christmas to New Years.

Bugetqueen, I have 5 tickets left and you can have all of them if you need them. I can probably get a few more if anyone else wants them.

We can meet up at St. John's just before the concert and I can escort you up to your seats.

If you have never been inside St. John's the cathedral is HUGE and seats more than 4,000. This concert always fills up the church.

If anyone wants to sit in the reserved section in front of the church, tickets are also available through the St. John's website, not sure of the cost of those tickets, but it's not that expensive and the seats are great as well.

WOW- thanks everyone for all the info. To answer the questions- yes i do want to be in NYC for the 31st as that is my birthday, and as a girl only turns 40 once I am willing to splurge a little. I will definately be searching all the links people suggested. i guess i just need to suck it up and book it as things aren't going to get any cheaper...

Even if hotel rates are like Anonymous said--$410 for the 31st then $110 starting the 1st, for their favorite hotel--on average, it won't be too terrible if you visit, say, the 31st to the 5th. Or you could do a short trip. I'm in Seattle and I've done long weekends in NYC--I know some people wouldn't fly cross country for a 4 day trip but I do worse that that for work, so it doesn't bother me.

NYC is HORRIBLE on New Year's Eve, and then New Year's Day it feels like a morgue. Go the next weekend when things are normal and the hotels and restaurants act like they are happy to see you

Although NYC has a reputation for being very expensive, I beg to differ! There are numerous ways to do it on a budget. Check out the website www.nyc-visitor-discounts.com. It has lots of suggestions for very discounted and free stuff.

Enjoy!

THere's a really nice B&B up in my area, that I have toured and can recommend that won't break the bank even over the holidays. It's the Harlem Landmark Guesthouse, althought it's not actually in Harlem, it's in Hamilton Heights. It's on W 147th ST on a National Landmark tree lined street, with all rennovated brownstones. The subway is around the corner A/D line and midtown is only 15 minutes away.

There is a website, so you might google it for info and pictures.

If you are going to go to Times Square On New Year's buy a fireman's helper or an extra bladder.

Travelbuff- how nice of you. YES, I want to go. I don't need 5 tickets, just 1 or 2. Thank you, sincerely. I have never been inside.

Ok you are on my list. Love to have you come and hear the concert. Last year Lauren Flannigan sang and she was amazing. We've had lots of Broadway stars too over the years, so as soon as I hear our guest this year I'll let you know.

I've stayed at Milford Plaza Hotel and it usually has good prices,check on it,maybe you can find a bargain and it s also near Times Square (near but not in it that is good!)

Sorry but the Milford Plaza will be closing shortly and will not be open for the holidays. They are doing a TOTAL redo of the hotel and expect it to be open again in 2011.

@travelbuff : I am so sorry I didn't know it...now I understand why everytime I try to make a reservation for 2010 on their website,the answer is always negative!!!thank you for the info

Book a room at the Hampton Inn Meadowlands, Secaucus New Jersey. You can cancel anytime, and meanwhile you can look around at other options. But at least you'll know you're on you're way and have a place to sleep should you need it.
This Hampton is very nice with a decent breakfast and shouldn't be more than $129 per night. Best of all you're just a 15 minute ride into NY on the Port Authority bus and then you'll have a few minutes walk to Times Square. Lots of people stay at this location for visits to New York and you can check the reviews...the bus picks up directly across the street from the hotel and there is plenty of dining etc nearby. I'm sure you'll meet other people here who are making the trek into Manhattan for New Year's eve as well, and the hotel will give you a bus map and everything else that you need. BOOK IT, WESTERN CANADA, YOU'RE ON YOUR WAY TO THE BIG APPLE ! HAPPY NEW YEAR!

Are you flying from Manitoba? If you decide to stay in Secaucus, Newark (EWR) will be your airport of choice. From Newark airport you'll take the direct 12 minute train to Secaucus Junction, and then a short cab ride to your hotel. (or, it would be about a $50 cab ride from airport to hotel).

Here is the train schedule from Newark airport to Secaucus:
http://www.njtransit.com/sf/sf_servlet.srv?hdnPageAction=TrainSchedulesFrom

And information for the area is here:
www.stayinthemeadowlands.com

It makes NO SENSE stayin in New Jersey, because you will be spending over $100 per day in transportation costs back and forth.

There are lots of option IN MANHATTAN that will be close to your budget and several of them are already posted to this thread.

Sorry meant to say over $20pp per day in and out of Manhattan, there are better choices in Manhattan.

suite7: "NYC is HORRIBLE on New Year's Eve..."

Yes, yes, yes - and St. Valentines Day's is the worst day of the year to eat out. But NYE is when many people want to visit NYC (like the OP!) just as Valentine's Day is when many will choose to eat out. It ain't going to change know matter many times people are "warned".

Greetings from an East Coast local! It's completely possible to do NYC on a budget, as long as you're willing to feast more with your eyes (plenty to look at) and leave luxury meals for another time. For lodging, try a bed and breakfast: one site is www.bedandbreakfast.com/manhattan-new-york.html. Sometimes you can find rooms in private homes or apts, or whole studios, for much less than hotel rooms. It may also be cheaper to stay in Brooklyn (Cobble Hill, Brooklyn Heights, Park Slope are all nice areas; try for something near the subway). It's probably a good idea to book ASAP to be sure to get a place. There's plenty of great food in NY, much of it inexpensive; you could get simple lunch meals at the oodles of small markets and sandwich shops around town (must-go-to: Fairway on Broadway near 78th; Zabars, several locations), and reasonable dinners ($15-25/person) at neighborhood restaurants, making it easier to treat yourselves to one or two nice meals if you want. Google "free events in New York City" for some of your entertainment. These are often great: free concerts, performances, readings, lectures; and you'll be mingling with locals and visitors in the know. An evening wandering around mid-town at that time of year is an experience in itself. Google "museums in New York City" to find terrific ones slightly off the beaten track, and usually cheaper (and less crowded) than MOMA and the Met. With all these cost-saving measures, you might feel free to pick one or two more expensive events that you really want to go to. Finally, buy a New Yorker and/or a Time Out New York for a couple of weeks before your visit, and pick them up when you arrive; they both have extensive events listings. I hope you're able to make the trip -- and have a great time!

Please post your own ideas, travelbuff, but don't tell others that we're not making sense.
$20pp to take the Port Authority bus back and forth from Secaucus, New Jersey? I don't think so! It's around $3.50 each way. People do it all the time and are very happy with this budget option, just check reviews for Hampton Inn Secaucus and other hotels. We had to do it a few years ago for a trip to Yankee Stadium and it was much easier than we expected, in fact it was a cinch.

http://www.broadwayfocus.com/nj_nyc/nj_nyc.html

"Sometimes you can find rooms in private homes or apts, or whole studios, for much less than hotel rooms."

Short term apt. rentals in NYC are often illegal or scams as has been pointed out numerous times.

If I was the OP and coming to NYC for a special trip, I'd try my damnest to find a place to stay in the city, exhausting all possibilities before deciding on Secaucus or anyplace else out of Manhattan!

Well, on a tight budget, she can look at several options. Personally I wouldn't even consider priceline booking 3 months in advance if I were on a tight budget. The thought of losing six or eight hundred bucks on a non-cancellable hotel would scare me a lot more than staying outside of Manhattan. But that's just me. My point was that she could book in Secaucacus, with no cancellation penalties or worries, and then have the peace of mind that if all else fails, she's still going to New York for New Years Eve. She can watch for an airfare sale an pounce on it without worrying that she'll have air tickets and no hotel possibilities, because her back-up plan will be booked and confirmed. And she won't have in the back of her mind for six months, "I hope nothing happens to cancel this trip because I'll lose the $800 bucks that I spend on a hotel". Furthermore, if she's shelling out $1200 for air tickets, she might not have the rest of the money freed up right away to pay for the hotel in advance. Nothing wrong with a little peace-of-mind while she's "Trying her damndest" to find something in Manhattan, is there?

Be sure to fly in a couple of days early. Flying Canada to New York City...you could really be in trouble with bad weather in late December, so make sure you have some padding there. You don't want to book a flight on Dec 30th, have it delayed until the 31st, and have your vacation of a lifetime ruined by poor planning. If you can't afford to take a hotel for two or three extra nights before new years, then find a cheaper hotel. If you need to cut the vacation short due to finances, then leave NY on January 1st if it means you can pad it with a couple of days on the incoming side instead. January 2 and 3 and 4 may be way too busy to find a flight anyway.

It's your 40th birthday in NYC-go for it!
Give us some more information on what you like to do and this forum could probably help find you the experience that fits into your budget.

Staying in Seacaucus during the holidays is not the best idea.

You can save on meals and transportation if you have to spend more on accommodations. So I agree with Mierarosa's suggestions.

There is so much to do in NYC during that time that does not require a lot of money or in some cases events are free.

I'm sure the NYers on this forum will supply you with lots of ideas once you've made your decision.

New Year's in NY can be as expensive or as inexpensive as you want it to be.
E.g. last year New Year's cost me $50. I went to a favorite restaurant in Park Slope that kept their menu prices the same, I received a free glass of champagne to toast at midnight, a new year's hat and a noise maker, at midnight the entire restaurant erupted into cheers with everyone hugging each other and toasting, the restaurant was decorated for New Years and the Time Square ball drop was on the tv. I then went to meet my friends at a lounge in the City where they'd spent $200 for the entire night, plus more for food before going to the lounge. I paid $20 because it was after midnight and I had a ball, then I walked over to Times Square to look at the ball in the wee hrs of the AM and it was empty but still had the energy of the night before.

In previous years, I've gone to the Brooklyn promenade with a bottle of champagne to watch the midnight fireworks, after enjoying a nice dinner somewhere. Again cheers, hugs, some singing, some dancing and NYers and visitors wishing each other well for the New Year.

There's also Jersey City...you can take the PATH train into the city very easily. Hotels are better in Secaucus, however.

It would be nice if she could find a GREAT room in a GREAT location at a GREAT price, but let's face it....there are TONS of people who head to NYC for New Year's and not all of them can stay in prime locations. Being realistic and having a back-up plan is a very good idea.

There is no need to go into debt just because you're turning 40.

http://www.fodors.com/community/united-states/how-inconvenient-is-secaucus-for-visiting-manhattan-in-december.cfm

Be very careful about booking low cost hotel rooms in NYC these days. They are having a huge bedbug epidemic. Subway advertisements are for dogs that sniff for bedbugs before you rent your next apartment. See bedbugregistry.com for maps of locations on the registry. Been there in August '09.

An alternative, IF you find Manhatten out of your price range, is the Hilton in Newark, which is across the street from the Penn Station and direct access via the PATH into Manhatten. I have stayed there using their prepaid discounted booking, but this is the only place I would stay in that area. At this point may not even be available, but only a suggestion.

Budget Queen

It is spelled Manhattan.

If you are considering staying outside of NYC, a course I do not recommend, be certain that the transport is available at usable times, for example early AM and New Year's Day. Then take seriously NYC weather. Sometimes it's just cold and damp and windy, but we do get snowstorms, in which case the city is paralized for a while, and you will not be traveling that day, except by subway. If you want to be in Times Square NYE, along with the other million people, plan for the very effective but movement restricting crowd control and anti-terrorism measures. On the other hand, NYC is the ultimate New Year's Eve city, for all that.

divineMissM,

Staying outside Manhattan, during the holidays in NJ DOES NOT MAKE SENSE, for tourists. The traffic coming into the city is a NIGHTMARE, and the time spent on the bus will eat up so much valuable time. Also getting into and out of the city at night will have to be based on bus schedules. Transportation costs would be at a minimum based on your post $14rt for 2 each day plus subway in Manhattan, so I was not far off when I said $20, and again it would depend on where the hotel is located. Factor in the weather which could play a part in traffic conditions snow/rain/ice which will slow things down as well.

There are so many options for staying IN Manhattan, hotels and B&B's that the OP should be able to find something within budget. And of course there's always priceline.

tbuff,
Actually you said $20 per person...but that's neither here nor there. The point is that I clearly stated with my suggestion that the OP should keep looking for something in the city. The Secaucus plan just lets her secure her vacation time, book her airline tickets, etc, while she continues to look at other options while not having to lock herself into Priceline. If worse comes to worse, she has a room and can get into the city for New Years Eve without much trouble. Being IN the city with all the congestion for New Years Eve is no piece of cake either, after all. She'll be fighting crowds either way. And as posted above, the bus travels in the bus lane, not the traffic lane.
Many other travelers besides the OP are going to read this topic. With so many people heading for NYC on New Years, not everybody is going to find the perfect room in the city. Even if the OP lucks out, not everyone will. Telling them that staying just outside of the city is insane is a little extreme if you ask me. All these rooms will fill up by New Years, and yes everyone will have to cram into the buses and rush around, just like people staying in Manhattan will have to cram into the subways and fight the crowds. Making it sound like staying in the city for New years is a breeze and staying 15 mins out is hell, that's just exaggeration.

A search of tripadvisor reviews for Secaucus hotels finds several reviewers who've stayed in Secaucus for New Years and have mentioned the ease of getting to and from the city. Again, not EVERYONE can stay right in Manhattan, there just aren't enough hotel rooms.

"We stayed at this hotel for New Year's Eve ... The staff was very friendly and encouraged us to use the 320 bus to Port Authority. The bus was fantastic. ....and the bus service is fantastic. It ran until 5am on New Year's Eve."

Of course I think - go for it - make it all as close to your dream as you can. And if you dream of Times Square at midnight - read up on it a little, and if it still appeals to you, do that too!!

Hotels - I imagine you're seeing what you can wring out of Priceline or Hotwire. As to other options - one of the 2 4* Priceline hotels in Jersey City is amazing - it's practically in the river, so you see the Manhattan skyline. I have put guests there and then gone and hung out. It's dreamy and otherworldly, to me. I paid under $100/nite, but it wasn't New Year's Eve!!

And - as to transportation - the Jersey City 4*s are right by the PATH train stop -- this one was truly on top of it, you would not get your hair wet walking there in the rain -- and since it's a train there is no traffic problem, and it runs all night. You can get as far as 33rd St on it - check the maps online.

Also - to and from Secaucus I am almost sure you can take these vans from near the Port Authority building,for $2. Cheerful alternate transportation used mostly by Spanish speakers. I love them - I take them occasionally to the Indian movie theater out that way.

One agreeably crazy plan would be - have your dream night or two in a zillion dollar Manhattan hotel on New Year's Eve, then make up for it budget-wise in Jersey City or Brooklyn for the rest of your stay.

PS don't make a plan involving taxi rides on New Year's Eve!!

This hotel in Brooklyn might be a good deal compared to Manhattan:
http://www.nuhotelbrooklyn.com/questions_bixler_success.cfm

http://www.tripadvisor.com/Hotel_Review-g60827-d1103707-Reviews-Nu_Hotel-Brooklyn_New_York.html

It is very close to transportation into Manhattan including yellow taxis and every major subway line. It is also close to Smith St that has some of the best restaurants in the Borough. It would be a way better option than the traffic into and out of NJ.

The area is safe, I walk by the hotel just about every day at various times of the day and it is across the street from a Police station.

It is also in walking distance of the Brooklyn Bridge. I've never been in the hotel but it is in a new building built maybe 3 yrs ago. I think it is part hotel, part Condo.


Good luck with your decision!

The OP doesn't seem to have revisited the thread. I hope she wasn't scared off by checking priceline etc and coming up with just $275 per night hotels. While that may seem like a great deal to some travelers, it's beyond the budget of many/most. I hope she realizes that there are alternatives and that with a little ingenuity, she can make it.

We spent last NYE in Manhattan. We got a great deal on a Marriott and arrived just a day or two early. I found the sales better before New Year (and they were amazing!).
We went to Saint John the Divine and then had a quick dinner (no prix fixe) before walking along Central Park in the cold and watching the fireworks. We got a cab, easily, just as the fireworks ended as the cabbies had all pulled over to watch, too.
New Year's Day we had brunch reservations in SoHo and then went to Battery Park for a view of the Statue of Liberty.
All in all, very successful!
It was busy, but not awful and a once in a lifetime opportunity.
I would never stay outside Manhattan for this experience. It would not be the same!

"I would never stay outside Manhattan for this experience. It would not be the same!"

So you're advice is, if you can't stay in the city, then just stay home? Well, that's one option I guess, and it looks like the option that OnTheEdgeof40 might have chosen.

I picked this up by searching for New Years and thought I'd answer. This was a dream of mine also and I made it in 2006. I am so glad I went but you really need to know the whole deal before you go... First.. Yes, it can be done on a budget.. hint..cheaper and more available to stay in New Jersey we stayed at the Fairfield Inn Avenel (New Jersey) 732-396-9700 which seems far but they have a free shuttle that will take you to the train station and for a little bit of nothing you get right into Penn Station they also have free shuttle to and from the airport which will save you a fortune! Now for the real deal on Times Square - get there very early (2pm) about 4 or 5 they will start clearing the streets and there is a massive rush into the security who makes sure you have no alcohol then place you in "pens" (get as close to the rail as possible) you will NOT be able to leave this pen or you can't come back...there are no vendors or bathrooms after you get in your pen so plan ahead! Take a sandwich and a small bottle of water because if you have to pee you can't come back into the pen... About 6p they start practicing with other time zones and the music will be wonderful from every direction! Antoher hint: They provide hats etc are to a good portion of the folks standing in the pens so you don't need to spend money on the ones they sell in the street - wait to get the real deal ones!
Hope you make it and have a blast!

I think the "no bathrooms" part of this sounds hellish, especially for the 10+ hours described by jmkalksne.

I imagine you can still do other stuff in NYC that doesn't involve that sort of discomfort, but I do understand that everyone has their own preferences and for some it would be worth it to be right there when the ball drops.

A few years ago, the Marriott Marquis in NYC was selling 4* rooms for $110/night on Priceline for NYE - the Name Your Own Price side. That was probably a mistake price, and won't be repeated, I'm sure. However, it's still worth trying to bid on Priceline, but I wouldn't expect anything. See www.betterbidding.com .

The price of a Marriott Marquis ball drop view room for New Year's Eve is about $1500. Prices for other hotels are similar - and prices for almost every hotel is the city are jacked up that night.

Not sure about hostels is someone want to go really budget.

welch, we're planning to do the exact thing! What restaurant did you go to that didn't serve pre fixe? Was it nice? That's all I'm looking for now for that evening....

sorry to hijack the thread.

We ate at The West Branch on the UWS.
It suited our purpose perfectly as we attended the concert at St. John the Divine and then saw the fireworks in Central Park.
The food was good.
I wouldn't put it at the very top of my NYC dining experiences but there are few restaurants that I would put there for NYE- and the price with cocktails and a glass of wine- 2 or 3 courses including one that involved lobster, was in the $130.00 range for both of us!!

thanks welch! will look at that place since we have the exact same schedule as you for new year's eve.

Because someone from the choir was nice enough to give us tickets, we went to John the Divine for new years eve and it was wonderful. Are there any other tickets left?

Hi travelbuff,

we are 4 european students, with the same issues. We want to experience NY on New Year on a budget as well. We are most interested in cheap good food preferably with some sort of view and fun cheap things we can do to make that an unforgettable experience. We would love some St Johns concert tickets, but I guess were not taht lucky that your singing there again or are we? Anyway and tip and advice is greatly appreciated.

Thanxs JC

Hi jcmalwar: The long thread you've posted to is two years old. You're likely to get more responses tailored to your interests if you start your own new thread.

A 2 year old thread is revived, but the question of NYC on NYE always remains.

Restaurants with a view are few - and VERY pricey - since they will have a single price "party" for the night. For an inexpensive experience (comparatively) stay on the upper west side (The hosteling International is reliable if that's what you want). Have dinner at one of the local ethnic restaurants for a very reasonable price and then walk to Central Park for the free fireworks.

Staying near Times Square will be an awful price - Marriott at Times Square gets more than $1500 for a room with a view - and seeing the ball drop there will require getting there around 4 or 5 pm and standing in a police pen until after the ball drops at midnight. (Did this as a college student, many years ago, way before there was so much security, and we had a dry, warm night - in the 30s). If it's cold (wind chills of zero farenheit - or snowy/sleety) it can be hell.

Thank for the great advice nytraveler. Can you recommend any nice ethnic restaurants that are a not too long walk to central park for the fireworks?

Also, for central park fireworks - are these free and not as crowded as at times sq I imagine?!

There are a host of restaurants if you just walk up and down Broadway, Amsterdam of Clumbus Ave.

Some goo places:

Italian: Gennaros, Aqua
Dominican: Cafe con Leche (very casual and inexpensive)
Kefi (Greek)
Tandoori (Indian)
Gabriella's - Mexican

But there are a ton of places - do call to be sure they are open and serving a regular dinner

Fireworks in Central Park are free - and since the Park is enormous (bigger than the country of Monaco) crowding is not a problem.