Overprice hotel room
Pros
Fun to live with lots of other young people
Cons
Guest policy is ridiculous and the security guards are on a power trip. The elevators broke 3 times the summer I lived there. The marque sign belonging to this building collapsed one morning and could have killed someone if anyone was unlucky enough to be underneath it. The building hadn't maintained it for the nearly 70 years its been there.
Nice student housing
Pros
Good location, easy access to downtown, dumbo, subway etc
Cons
elevator gets stuck often, pretty old building