It was a stylish, clean, hotel, right next to two subway lines that run through the heart of Manhattan. The staff were super friendly and helpful, and the environment was hip. Unfortunately, the decor looks more inviting in pictures than real life; the room felt, uh, prison-esque. That's not to say that it wasn't clean or in great condition – it was – its just the exposed concrete floors and high, plain ceilings made it feel particularly cold. I suppose that's the nature of the aesthetic of staying in a converted factory, and that it was lost on me.
Other notes: The pillows were frustratingly thin, although they were happy to supply us with more. The centrally controlled A/C made it tricky to get the room to a perfect temperature (can turn off/on, and only slightly adjust temp). The shower pressure was pathetically weak (although it was good and hot). There's not much in the way of eating or good coffee in the immediate area (the "good" coffee shops are 15-20 min walk away).
Overall, pleasant stay, although it wasn't quite to my taste.