We stayed here for one night on our way through Managua - this place was perfect for us.
Hostel was clean and comfortable.
Our private room had an amazingly comfortable bed, with cable tv and a clean bathroom with hot water (a rarity in parts of Nicaragua!). Great nights sleep as they enforce quiet time at 11pm. Plenty of chilled common areas, two kitchens and free purified water available everywhere.
Breakfast cafe on site is cheap enough and does a decent breakfast - juice is good but coffee is very weak and watery.
Neighbourhood was safe and has a great Chinese restaurant up the road (the hostel staff member amazingly didn't know of it - turn left out of yhe hostel and at the top of the road look left and it's in front of you!).
Only minor comment would be the staff were not the friendliest, the guy on the desk in the morning more or less just grunted to us on our way out! :-/More