I am looking for some place chic and trendy, but convenient.

Unless you're willing to pay in excess of $300/night, highly recommend you do some homework and try Priceline or Hotwire. Convenient depends entirely upon what you plan to see and do while there.

Hey New:

A little more infor regarding what you want to be close to (personally, I love being near the Flatiron building (Fifth Ave/Broadway/23rd Street). It's close to subway stops, and away from the hustle and bustle. However, you can still walk to the village, Chelsea or even Times Square (or just take a short subway ride). You might want to be three steps to Times Square, so convenience for one is not necessarily for all.

Check out expedia.com and see what come up cheap. Then, check the websites for the hotels that come up cheap. It's a bit of research, but it's worth it. As a couple of examples, try:

Metropolitan Hotel
Thirty-Thirty
One the Ave
Habitat Hotel
Hotel 17
Carlton Arms

I cannot vouch for any except Hotel 17. I really liked it, but it was shared bathrooms (for some people that's a complete no-no)

OOPS

That's "On The Ave"

Our favorite hotels in NYC are The Plaza & The Waldorf Astoria Towers.

Don't you love it when people post answers who obviously never even read the question.
Chic and trendy, newton asked.
Waldorf Astoria Towers and the Plaza? Chic and trendy? You've got to be kidding.
Check the W hotels, Soho Grand, and The Muse for chic and trendy. But the real question is convenient to what? Theatre, museums, shopping, the village and Soho?

Hotel 17? Since when does chic and trendy equal shared bath?

Check out the Ian Schrager hotels, Royalton, Hudsons, Paramount and Royalton. W's also good choices. Time Hotel is another that comes to mind in the theater district.

The Plaza is tops, easy. Easy Easy. No comparison. The Plaza.

Hudson Hotel, 356 W 58 (& 9th Ave.)

Chic and trendy can mean expensive, especially here. I live in NYC so I don't stay at our hotels but I hear that The Gerhswin Hotel is popular with a young and hip crowd. The Ian Schrager hotels are definitely chic. The Madison is supposed to be very au courant. I had a meeting at the W Hotel in Times Square recently, and it's beautiful but I don't know if you want to stay in that area, it's pretty frenzied up there. "Convenient" is all in your perspective; anywhere you stay in Manhattan is convenient to something good. And p.s. don't be afraid to use the subways, it's the cheapest and fastest way to get around and safer than it used to be.

Thanks for the info. I stayed at the Clift Hotel in SF and I do not particular like the size of the rooms. What about The Time and W Hotel at Time Square? Any comments?

Also, what the W Hotel New York on Lexington? Is that far from Time Square, the museums and shopping?