Location is very good. Everything else is not worth the price. It's basically a big corridor split into several rooms by thin curtains. You can hear everyone at all times -- from loud conversations at the 'front desk' way after regular hours to sex noises from your 'neighbors'. Worse than a regular hostel, and not that much cheaper than a hotel in town. I wouldn't recommend.
Check-in was not the easiest because entrance is actually on 29th street rather than 6th Ave. Once you realize that fact it is pretty straightforward, but instructions could be clearer.
When I arrived there were no towels or blankets in the room. One of the co-hosts brought those in a hurry, but by then it wasn't clear if sheets had been washed before. The blanket smelled super dusty.