Good stuff: Great location! Love this neighborhood, away from tourists with lots of great places to eat and drink nearby. We had no concerns about communication or getting our key. The studio was clean. We stayed a Fri/Sat night and noise from downstairs restaurant was not a problem. It's NYC after all, so pack your earplugs, but general traffic and street noise were louder than downstairs neighbors. AC worked fine and we were comfortable during humid hot weather. We were able to drop off our bags in the shared kitchen prior to check-in time, which made our lives easier.
Less good: The mattress was punishingly hard and lumpy - I could feed metal springs right through fabric. Ended up sleeping on the futon. The private bath (toilet/sink and separate shower) are across the shared kitchen, so we needed to bring our clothes with us into the shower. I don't think this was clear from the listing, but mostly no one was around so it wasn't a big deal.

The place feels run down, and is furnished from a yard sale, but it was clean and everything worked. Giving 4 stars because it was a great price to stay in Manhattan in a cool neighborhood.