Please read my profile for my biases.
When I come to the City I usually stay with a friend in Brooklyn. However, he just moved to the Bronx and the morning commute was going to be a hassle for me to get to my morning meeting, so I decided just to stay here which was within walking distance.
The area reminds me of Brooklyn 15 years ago, so while it is a bit shabby looking, the morning streets were filled with young professionals jogging or going out for coffee. I never felt nervous at all, but if you were looking for a place close to restaurants this probably isn't your hotel unless you're cool with taking the subway a few stops.
The room itself was large, for NYC, and it was quiet, for NYC. Note that since it is near the trains you will hear them, but it wasn't loud enough to bother me. This was the second hotel I stayed in during this trip that had a nice sized shower with a door versus a curtain.
Overall I was pretty pleased with my night's stay. The cab from LGA was about $20 and I took the train or walked for the rest of the trip. The Internet access worked fine for me and the free breakfast was decent.