Dream is a botique hotel on W 55th St near the south end of Central Park. It's north of Times Square and definately within walking distance (around 10 minutes) of most of the major Broadway theaters and other Times Square attractions.
The rooms are a bit small, but resonable by New York City Standards. The rooms are well furnished and stacked with lots of rather chic amenities, including a Bose wave radio, connectors for your iPod, and even flat panel LCD televisions.
Pricing is not cheap--expect to pay around $200 to $300 per each night. But you do get what you pay for, and this hotel has service that is impeccable and the staff is magnificient.