We've been staying 3 nights in Jennifer's apt in may 2011 and everything was perfect.
It is well located in Lower east side in Chinatown, the subway is just 3 blocks away, 5min walking. It will bring you to Time Square in 20min. You have many shops and nice restaurants around. You have internet (bring your laptop) and everything you need to make your own food if you don't want to spend too much money eating outside.
The room is quite big and the bed is comfortable.

We came by car and left it in a 24h parking on Allen street for 27$ per day, which is not so bad for NY.