Stayed for 3 nights as a couple in July.
Hostel is in a good location in midtown Manhattan. Located on the corner of 3rd and 34th street the area is full of cafés, restaurants, fast food joints, bars and any other type if place that serves food and/or drink you can think of.
There is a subway one block away for local trains and it's about a 10 min walk to grand central station.
The street entrance to the Inn is discreet so keep a look out for it. The reception is up one flight of stairs. There is no elevator anywhere in this hostel so if you find stairs problematic this isn't the place for you. The staff were friendly and helpful throughout our stay. They also provide a cheap shuttle to/from the airports.
Our room was decent sized, with lockers, a desk and chair, a fridge, a TV, and a sink in the room. There is free wifi all over the hostel. The bathrooms are all separate rooms located throughout the floor, and I never had to queue. The hostel was exceptionally clean.
The Inn provides coffee and donuts free at 8am every morning on a first come first served basis. We aren't early risers or coffee drinkers (and the boyf is diabetic so can't have donuts) so didn't bother with this, but it seems like a nice idea for those who are.
The pizza place across the street does huge slices for $1 and we did have this and would highly recommend it.
We enjoyed our stay here and would recommend it to others on the same budget.