Wow, thanks for all the good info from everyone. Initially last night, I booked us at the Hampton Inn next to Newark Airport, as it was only $130/night. After catching up on this thread, I cancelled that reservation. I didn't realize Newark was that bad! Thanks for the heads up!
Currently, I have a reservation at the Sheraton Lincoln Harbor in Weehawken. It came in at $214/night with a free breakfast. Location wise, it's excellent. The price is a bit higher than I hoped for, but I'm slowly coming to the realization that NY is expensive, especially over the holiday weekend.
I very much appreciate the advice from everyone here. I'm going to continue looking at the suggestions and continue exploring what's available. Fortunately, I have a room at this point just in case I don't find anything better. Right now, I'm attempting to wrap my head around the various public transportation options in the area.