Excellent Value in NYC
You are not going to get much better in terms of space and cost. True, you are at the bottom of Manhattan Island, but transport is so easy and at such competitive pricing, the cost difference is worth the extra $20 in subway fare and the few minutes in travel time. Breakfasts are great, staff are friendly and very helpful. I don't intend to go back to NYC for a while but if I were, I would stay at the Mulberry again. Canal street is not a pleasant experience; fish market and astonishingly congested.
If you are looking for a great place to eat, cross over to Brooklyn and check out Diner, 85 Broadway; http://dinernyc.com/.