We had 4 full days in NY last Sept, we stayed right in Times Square. Be prepared for plenty of walking, yes it is very, very crowded and noisy.
Would not advise you to take the subway to your hotel, especially with kids and 4 suitcases. Just join the taxi queue, they will ask you where u are going and then give a ticket with the taxi fare on it, u just have to add the tip.
They will call a maxi cab up to the front for you, we had 4 people and cases.
If you have a daughter, she will probably love the American Girl Store on 5th Ave, you can look it up online.
We booked a car service to get back to the airport as I was paranoid about being late for our flight to Orlando.
Are you going to the 911 memorial?
We decided to get the subway out to Coney Island, which was a great idea, it was a good 40 mins I think on the train, but saw a bit as it all wasn't underground. We had a walk along the pier, had hotdogs at Nathans ( sorry but they were awful lol) and sat on a bench looking at the Atlantic Ocean, it was quite a nice break to be away from the hustle & bustle of NY city.
I would say don't plan too much. We did happen to get lost a few times and you have to queue for everything, so take that into consideration.
Btw we stayed at POP Century in Orlando and had the free dinining QS, way, way too much food, we just payed for a few TS meals out of pocket.
I would not purchase it, but for free , yes ty.
have fun