An excellent value for a prime neighborhood. The main necessities are there: air conditioning, hot water, clean towels and soap.
And while there are indeed beds enough for 5 people, it would be extremely challenging to have that many people in the apartment at once. There is also very little room for cooking or cleaning dishes. Fortunately, there are plenty of food options in the area.
There is a fair amount of street noise, as to be expected in this part of NY; but you don’t notice it as much if the aircon is on and you’re wearing earplugs.
A good option for two or three people who want to stay in Alphabet City, and who don’t plan to eat in.