Noisy
I stayed in the cheaper room. The walls were thin and you can hear people coming up the stairs creaking all the way, and the heater made a hissing noise every 2 hours or so. I asked about it but the only other option is to turn it off. One night someone was singing in the next room at 6am. Also no elevator, so it was tough to carry all my stuff upstairs, but the hotel people were nice enough to help me carry them. I stayed 6 days so all this was very annoying.
Other than that, its a great location, near to the subway, and the price for new york is cheap too. But it might be better off staying in a B&B and walk a little for the public transport. I wouldn't recomend staying more than a few days.