Pros:
I paid only $65/day for this midtown location; right near the Empire State Building. A fantastic price for the location. If you only need a budget place to sleep, I DO recommend this location. If you need comfort and civility, don't use this location.
Cons:
The building has public showers (my room had its own shower). As a result, in the evening people in need of shower would negotiate with the security guard to take a shower for a fee.
Homeless people sleep in the staircase area if they are able to sneak in without being detected.
Smoking is prohibited, but people do smoke.
I also witnessed a verbal exchange between a security guard and a resident. The guard was critical of the resident bringing a new person overnight every night for a sexual activity which was against the rules of the building.
I had to call police at 1AM in the morning due to a severe next-door domestic violence incident. I thought they would kill each other if I didn't do something. Police came and took away the offender. Next time, there was another couple fighting, but not to the extent that would warrant a 911 call. These episodes should give you a good understanding about the overall climate of the building that mostly hosts very low-income residents.
A drug dealer sells drugs right near the entrance of the building. And "nothing can be done because he rents out a room in this building and pays daily to stay" - according to a security guard. There is only one entrance, and it is impossible not to see this guy. He is extremely skinny, unhealthy looking person who feeds his drug habits by selling drugs to homeless drug-addicts right near the entrance. I even witnessed exchange of money for drugs. I personally saw him several times a day surrounded by several homeless drug addicts.