I stayed here for 4 nights.It was clean and comfortable and affordable[ around $35 a night]. I got a room without an ensuite bathroom.Unfortuantly the communal bathroom for my floor was a few hundred feet away[its a big hostel]. My advice is to pay a little extra for a room with its own bathroom.
Overall its a nice hostel.I like the fact that its 2 blocks off Central Park. If you go a block west you will find plenty of affordable places to eat.The neighborhood seems fairly safe.And the hostel had very good security.It was a very safe hostel to stay at.
My only complaint is that the desk staff tend to be a little Manhatten -centric.If you ask them for info about places like Brooklyn, or Staten Island they actually ask you "Why do you want to go there?". None of them seemed to know anything about Brooklyn. But i have a feeling that all people in Manhatten have that atitude.
Overall its a good cheap place to stay in New York City.
Defintly visit the Metroploitian Museum of Art ! And walk around Central Park.