Great place to stay. Well-appointed apartment which felt like home (well, almost). Comfortable bed, and even our friend on the sofa-bed had no complaints. The decor felt original and not impersonal like the big chain hotels. It was a nice space to relax in the evenings after a busy day exploring the big apple. Cereals were provided for breakfast, but since there was a stove and fridge, we just stocked up on sausages, eggs, bagels and cream cheese from the supermarket across the street.
The innkeepers were extremely helpful, phoning around for a cab to take us to the airport and providing local restaurant recommendations.
The area does feel a bit unsafe, but that might be more perception than reality. We certainly had no incidents in the four days we were there, even arriving after midnight on one occasion. My recommendation is to be watchful if you are out on the street, especially if you are a woman travelling alone. But once inside the building's front doors, it felt perfectly safe.
There was some street-noise at night right through our stay, although with the amount of walking and sightseeing we did every day, we were usually to tired to care.
Note that the building has no elevator, so you WILL have to drag your suitcases up the stairs. And while the nearest subway stop is comfortably close, similarly it has no escalator, so more suitcase-dragging if you choose that option over taking a cab.