I'm your height, and I eat about 1250-1450 per day; when I'm your weight, I don't expect it to be any less, but I think I'll need to work out more. It's whatever works for you, I guess, but 1600 seems high, and I think you'll find that weight loss creeps along. If you stick to 1400ish or in the 1300s, I'm sure you'll lose 2 pounds a week. However, I know it's better for some of us to forsake speed for comfort, and that's totally understandable if you want to stick around 1500-1600 for that reason. It's really up to you.
Good luck!
PS- the best basic BMR calculators put you at about 1590-1600ish resting. I don't trust the adjusted ones, personally, that take into account what you do during the day. If I were you, I would just stick to eating at least 100 calories under my BMR, and I think you should be just fine.