As there is another bed room, you might be sharing the kitchen and bathroom with other guests. If fully booked, there is only one bathroom for up to ~6 people -- this can become a problem, especially in the morning and evening.
Kitchen: not very clean; too many things; little space if you want to prepare your own food. There is no dining table.
Bathroom: mold and hair in the shower.
Room: rather small; too small if you have large pieces of luggage. Rooms not soundproof at all. Gets very bright in the morning despite the blinds.
Location: close to grocery stores and bus stops. Going to New York by bus/train takes approx. 30min. If you intend to visit New York using public transportation, keep in mind that you'd have to pay extra for the bus (NJ Transit, ~4.50 $ one way) or the train (PATH, ~2.75 $ one way) as these are not included in any New York metro pass.
Conclusion: would probably not recommend, especially if the main purpose is to visit New York.