When I used to go, it was just an expensive frat party in a bar. All college grads who are there to relieve their glory greek life days. The food served one purpose only - sop up as much alcohol from the 3 hour open bar everyone is there for.
Black Finn is a what kelea said. If you want a bar with way better beer two blocks over is Stags Head on 51 between 2nd and 3rd, closer to 2nd. They have spicy fries too. Niall's on 52nd is a quieter Irish bar.
I just saw the fine print that it is a min of $200...I hope you have a big group going cause without happy hour. that's going to be a LOT of bar food considering there isn't a lot of options. I hope it covers drinks at least