The good: You can't get any more affordable for a stay on the Upper West Side, a 20-minute train ride from the theater district. I paid $180 for three nights in an 8-bed dorm.
However, I exchanged this low price for very poor sleep, which significantly impacted my weekend trip. This is not a slight against the hostel itself; it's just the nature of staying in a tiny room with seven other people (every morning there was at least one person getting up and making noise between 5-7 AM to pack and catch an early flight). That said, if you're a light sleeper like me, earplugs aren't gonna block out everything, and you'll spend hours awake that you should be sleeping.
Overall, the hostel was easy to get to, felt safe, and was comfortable. The bedding had hair in it, but I realize laundry doesn't magically make everything that winds up crumpled in sheets disappear. The bathrooms were clean, and I especially appreciated the private, dry area attached to each shower stall. Unfortunately, my showers each morning were cold, which was a pretty miserable way to begin a cold December day in the city. I didn't make use of the kitchen, laundry, or communal areas.
I would stay here again if I *had* to, but I think next time I visit the city, I'll save up some extra so I can get my own room at a hotel.