Thanks for the help!!
Common bathrooms would not be for me. I thought about commuting to the city, but it's their first time there and I'd really like to stay within walking distance of as much as possible without making them commute everyday to do stuff. I checked out hotels.com and found that the Hilton Garned Inn Times Square has decent sized rooms for about $250 a night. It's high but since their a little more spacious I don't think any of us will mind sharing. The rooms for 4 people are 2 queen beds and the rooms are around 300 square feet. I'm still waiting to hear their official budget for the trip, but I know we coudl swing $125. I'll let you know though!