This hostel is ok for a short stay. It is about 5-10 minutes walk far from the nearest Subway Station (Grand Concourse ST or 3 AV 130 ST). It would take you around 30 minutes to get to Manhattan main tourist spots.There are a lot of unexpensive shops, markets and restaurants near the hostel.
This is a hostel just to sleep after a long day visiting NYC, it has the basic appliances to cook your meal and wash your clothes.