If you like cold showers, rent here! Otherwise, keep looking.
Pros
The rent was cheap, but apparently you get what you pay for. The building is solidly constructed and you won't hear noise from your neighbors.
Cons
The heat and hot water go out on at least a weekly basis, and usually more often than that. Even when the hot water is working, it usually is just lukewarm, especially in the winter. The management and super are completely unresponsive to any issues (I have never even received a response when e-mailing the "help line"), and the super similarly ignores tenants. Common areas are pretty dirty as well. The noise from traffic, living near the Lincoln Tunnel, is also pretty unbearable, especially with the poorly constructed and installed windows in the building. Avoid this building.
Advice to the owners
Fix the boiler and actually respond to tenant complaints.