The unspoken rule of thumb is if you find a place in the city then you are as close as it gets unless you can get really lucky to find something in walking distance to your event. Anything outside of the city and you pay for bridge toll, rental car, car parking and when done a good drive out of the city versus maybe a cab ride. Find what you can in the city and go for it. Reserve, reserve, reserve well in advance.
It depends on what you mean by close. I hear good things about The Grove. Keep in mind that around Valentine's day B&B rooms can be very hard to come by.
AirB&B
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