I'm a repeat customer here, and plan to continue staying here for pretty much any/all ad-hoc stays downtown. It feels like what you'd get if you combined a hostel and an Ace Hotel; unapologetic hipster-bait, but in a good way/that specific variety that results in nearly an hour taking photos of a military-grade-precision-made bed with pretentious titles like "a study in marshmallowness" but still ends up way more pleasant ( and cheaper ) than a chain m|hotel.
Location is extremely central to downtown/Union Square and a lot of popular destinations, so plan to walk or take transit; if you try to drive you're gonna have a bad time, but it's eminently walkable.
Lastly: the coffee/food/cocktails downstairs are indeed not too shabby.