This is a solid place to stay in NY. It is not the fanciest place in NY. If you're used to fancy travel, I would not recommend staying here. However, if you don't mind things being a bit beat up, you will really enjoy it here.
The location is excellent. You're two blocks away from the Union Square subway station, which has the N/Q/R, the 4/5/6, and the L trains. You can get anywhere on the island from here with relative ease.
The Wi-Fi is excellent. Download speeds are consistently >300 mbps. It's a bit cramped, but two people can work from the kitchen table. I worked from the couch and didn't mind it one bit.
Overall, it's a great value relative to other NY hotels (especially in Manhattan). You cannot beat this location for the price. Also, most NY hotels have weak public wifi, so be aware of that as well.