You get what you pay for!
Pros
Great location and subway access via Union Square, great light in south facing units, responsive super, nice neighbors. Good water pressure and water that got very hot.
Cons
The radiator in my unit was quite noisy and the heat did not always turn on at times that made sense (ie. sometimes it would be off on when it was cold and other times it would be on when it was warm). One time there was construction on the roof that went on for a few weeks and was extremely loud in my unit. Management did not seem to care when I complained repeatedly and refused to offer any concession.
Advice to the owners
Turn the heat on at the right times.