Location to nearly all major subway lines, proximity to lower Manhattan and Brooklyn, convenient to city living (restaurants, drug store, bodega at finger tips).
My unit faces back of building and gets great light and has amazing view of city.
Cons:
Unit itself is small. Kitchenette only. Bedroom can fit queen bed and small dresser. Bathroom has weird layout and cramped. 4th floor walk up. Laundry in basement. King can get congested.