Room is exactly as described!
Building seems to be a hostel or low cost hotel with a shared bathroom in the hallway (not that this bothered us).
The hallway is less inviting with odd smells sometimes, but room is absolutely fine.
Shower wasn't great but other than that we had a great stay! Location is superb, walking distance to midtown and the subway.
The beds are fine and the sofa opens up to an uncomfortable bed. I'd ask for extra bed sheets in advance if you think you'll need to use it since the hosts leave the office between 6pm and 9am, so no requests will be answered between those hours.
Overall good value for money for expensive Manhattan, enjoyed our stay and would consider again!