First, this hotel is super cute. It has a good vibe, great location, and a fun bar and restaurant. The staff is also very, very nice.
Unfortunately, the rooms are TINY. We had a king size bed, and the width of our room including the bathroom and bedroom, was barely wider than the bed was long. Whoever sleeps against the wall cannot get out of bed without the other person getting up as well or without climbing over the top of your partner. Also, there is no closet. You get about 40 wall hooks, a couple fabric pockets that can hold 5 pairs of socks, and a bit of under bed storage.
It is well-priced for the location, but it is not nearly cheap enough to compensate for the fact it is half the size of a normal, already small NYC hotel room.
I might consider staying here as a single traveler with no plans of entertaining during my visit, but for the trivial amount of money you are actually saving compared to nearby hotels, I don’t think it is a tradeoff I would be likely to make.