NYC is going to cost you - especially around that time of the year. While the hotel prices may vary due to location and quality (and there may be some deals), I would guess a decent hotel in the area would set you back $350-$500+ a night. That is, if rooms are still available. Now, if you want to stay in a different area and commute to Times Square, hotel rooms would probably run you between $200-250+ a night. However, I would not recommend you do this on New Years. Travel by foot will take you hours with the crowds of people - and pretty much forget about the subways or cabs.
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