Hello everyone. I just returned from NYC after spending New Year's there with my family and friends. It was a learning experience... If you want to go to NYC for New Year's, I would highly recommend you stay in Time's Square at the DoubleTree, unless you have a VERY STRONG bladder, don't need food or water, and like the cold.

Once you get into Time's Square, unless you stay there, there is no leaving for any reason. We decided to go see the taping of GMA on Dec. 31st and at 6:45AM, there were folks already in the viewing area "waiting".
I converted my HGVC Points last year to HHonors for this purpose and had additional points as well and booked two rooms for 6 nights at the DoubleTree Suites for 225K points per room. I just checked and no HHonors Points rooms are available yet for Dec. 31st. I kept checking last year until they showed up. And I think Hilton makes you book at least 3-4 nights w/ HHonors Points around Dec. 31st, so you can't book a room for just Dec. 31st w/ HHonors.
For New Year's Eve, they hand out special key cards and also give you a letter to show the NYPD so you can get back into Time's Square. We went to dinner around 5PM and the streets were already shutdown and the only way to get back in was via this special key card and letter. There was a total of "8" of us together in our group in NYC. Some are in their late 50s and physically unable to stand out in the cold for 10-12+ hours w/o moving/leaving. We checked into going to some of the "viewing" parties, but the costs were unreal - at the Marriott Marquis, the costs were $800 per person (w/ drinks). The costs at the DoubleTree was $990 per person (w/ drinks). So what we ended up doing was paying an "uplift" for one room on 12/31 for $795 that gave us a Time's Square view. The costs for this room w/o the uplift was $2400 on 12/31! The main disappointment was that the room was so high up (37th floor), one would have to stand on a chair for a clear view of Time's Square. But the upgraded room had a large table and six chairs.

If we had decided to do this sooner, we probably could have a lower room with a better view.
Even though we were right there in Time's Square, the NYPD have the viewing areas blocked off and you can't just stand on the sidewalk and watch the ball drop. There is a small window, say around 11:45-50PM, where NYPD opens up the entire area for viewing the ball drop. I tried to leave the room around 11:45PM and it seemed like we stopped on every floor going down (everyone had the same idea), so I missed the window of opportunity to go outside as they closed off the exit around 11:50PM.

So I went back to the room and watched the festivities from the room. From our room, we could see Time's Square, the performance platforms, etc., but not the actual ball drop.
There is ONE room per floor at the DoubleTree that can actually view the ball dropping. Lesson learned is to go the 3rd floor (Check-In area) around 11:30PM and then go down around 11:45PM to the ground floor and await the time to go out to watch the ball drop.
So if anyone stays at any other Hilton property, other than DoubleTree TS, you need to plan on going to Time's Square by 12N at the latest and expect to stay there for 12+ hours with no breaks, no food, etc. and no way to leave w/o losing your place (NYPD will not let you back in).
Hope this info helps with anyone considering a trip to NYC to watch the ball drop.
I can knock this off my bucket list now and plan on a trip to Hawaii next New Year's. 
If I ever do go back, I would try and get one of the "ball drop rooms" at the DoubleTree on a lower floor so I could see the ball drop and also have a good view of Time's Square from my room.
Good luck and Happy New Year!