Located near Central Park and Columbia University, this "hostel" is located in a historic Victorian building in the Upper West Side. It has enough capacity for 672 guests, the rooms have between one and five beds and the average price is about $55 a night. It has internet access and common areas including a computer room, laundry, cafeteria and TV lounge.
During my trip to New York, I decided to stay at the Wanderers Inn West located at the beginning of Harlem, only a few blocks from Central Park and the subway. The hotel offers mainly shared rooms with or without private bathrooms. The breakfast is good and the price is OK considering you're in New York.
What an amazing find for accommodations in New York! You’ll get the ultimate bang for your buck at this Long Island City hostel. A four-person female dorm at Q4 is around $45 per night, and the bathroom is shared among the roommates rather than down the hall as is common in other hostels. The rooms also come with lockers and each bed comes with a night-light and outlets. Q4 is kept clean all throughout, which is impressive especially considering the kitchen is open 24 hours. Most of the rooms are located on the upper floors, but there was no elevator, so keep in mind you’ll have to carry your luggage up a number of steps. Another nice thing is that it is located about three to five minutes away (depending on your walking speed) from the subway station, as well as some decent eateries. Towels are available for free during your stay, and the staff is very helpful. It’s amazing that a hostel like this exists in New York at an unbeatable price!