My husband and I are planning a three day weekend in the Big Apple for the first time. Any suggestions for nice/decent hotels located in the heart of it all? We are trying not to break the bank with a hotel room. Also, any particular month during the summer that is better than the rest?

There are literally hundreds of hotels to choose from. What is price that won't break the bank?
As for a month, June is better than July or August, temperature-wise, though it can still get hot in June.

Yes... please indicate a price range. With the exception of a few areas such as the east side out near the UN building, the upper East side and the Financial District, nearly all NYC hotels that you'd be likely to consider are "in the heart of it all". It's relative only in the sense that some may be closer to subway stops but NYC's great public transport system makes all the attractions easy to reach (not to mention that it's a great city for walking).

Many tourists consider Time Sq as the heart of it all but as Owen says, the heart of it all is almost everywhere. Nothing is walking distance to everything but most midtown locations (east, west or south) are walking distance to some and near lots of transportation. Things actually quiet down in the summer, especially on weekends because many of the NYCers leave town. I much prefer going out on summer weekends than other times of the year.

People have mentioned getting good rates at the Roosevelt Hotel (east 40's) and the Warwick (west 50's)recently. Everyone also swears by bidding on Priceline or Hotwire. Quikbooks.com is another popular site. The summer months can get VERY hot. I agree with Howard that June is probably a better bet than July or August but every place has a/c.

I liked the Comfort Inn Midtown, on W46 just a block from Times Square but the block is quiet and loaded with interesting restaurants. The hotel, part of the Apple Core group, is recently remodeled, entirely nonsmoking, and offers a decent continental breakfast.

All hotels are close to some site in NYC. What are your priorities?

Doesn't it just drive you nuts when the authors of posts don't check back promptly, to answer questions or thank posters for helping? I have to say, I hate when that happens!