Chads place is awesome. Really neat old building, has a very "Old New York"kind of vibe. Nothing crazy in the way of amenities, but Chad is the man, the reason this place is so great. Awesome communication, and if you're in the room he's very quiet and courteous. Hell I screwed up my reservation and did it for a day short, unbeknownst to me until I was late checking out :/ but he was very understanding.
The bed is comfortable, there are a ton if great delivery options, and you're in a great neighborhood for going out, whether it be casual fine dining or the many legendary pun/dive bars, clubs and mixology spots ( International Bar and Death and Co, and the hidden gem, PDT (A true speakeasy tucked behind a secret wall in a phone booth). If I go into food spots I'l never stop, but you aren't terribly far fronds Katz's Deli, Russ and Daughter, and you can't stay without trying the pastrami at Harry and Ida's on Ave A. Also right on the other side of Tompkins Sq Park is the infamous St Mark's. The Museum of Urban Reclaimed Space is right around the corner, staffed by the coolest people and will give you one if the most unique tours of one of the most storied neighborhoods in Manhattan. I absolutely love Alphabet City.
If you're looking for an affordable spot in a fun neighborhood, this is it.