Pros and cons based on personal experience (just to keep in mind IF YOU'RE THERE TO ONLY VISIT NEW YORK!):
Pros: easy check-in and communication, decently clean place to sleep, there's enough comfort in the room and even a big common kitchen in case you need one. Obviously they care about the cleanness and order.
Cons:
- Get earplugs for sleeping! there's a TV always on at all hours of the night, every night, not loud, but you hear it and that's just weird. The high frequency tones sting your brain constantly. There's also a constant deep noise similar to an engine like waiting at the traffic light just under your window, no idea what it is, but it can bother. Get earplugs.
- finding the bathroom free was a matter of luck, even if you need it at 5 or 6 am. Some people take endless showers. That can be very unpleasant if you wake up for toilet and plan to sleep for another hour.
- the location seems good at first, but can be a real pain. You may wait for the bus even one hour long, I walked twice from Grove St Station in the night, because the bus simply didn't come. Sunday the bus comes once every hour if it comes and the times given by the internet are not reliable. On Sunday the PATH train also once every 40 minutes. The taxi price is a robbery. Overall over a week the long waiting for the bus and PATH trains or fery gave me unbearable frustrations, even if I assumed well the choice of sleeping in Jersey City.
- going/coming from the Newark airport both ways I took common tranportation and it took me each time over an hour, despite the really short distance on the map.
It was the cheaper choice for me, I just needed a place to sleep, but because of the whole much time wasted on waiting and being in the train/bus/fery, it would've been worth it to spend more and sleep in Manhattan. OR you need to overall spend more for taxi/uber, which I don't think it's an option considering that you opted for the cheap staying - which is cheap only for the New York price standards.