The location is definitely the main highlight of this place as it is near so many things such as the subway, the Path, the Flatiron Bldg, the flagship location of Milk Bar, Times Square, Empire State Building amongst a few things. Getting to other locations was also easier due to the central location. There's also an HMart (awesome Korean supermarket) a block away as well as a Duane Reade.
A lot of recent reviews mentioned issues with the A/C and I can tell you that the new unit is amazing and during our visit in early Sept, it was hot and humid so being able to go back to the place and feel so comfortable in the air conditioned environment was something we looked forward to.
The place itself was as advertised. Beds were comfortable, shower pressure was good, space was minimal but that wasn't a surprise if you looked at the photos but it was perfectly fine considering the cost and location of the place.
Communication with the hosts was great too. Got quick responses and all my questions or requests were taken care of quickly.
Definitely recommended if you are traveling with more than 2 people and you need a great location for a good price in Manhattan. We had four people and it was just about right, although getting up and down the bunk bed was a bit tricky, but not impossible.