Awesome stuff! I always stayed at the Hotel Pennsylvania when I was in NYC... usually less than $150/night (but also correspondingly run-down) and the location was phenomenal, right at Penn Street Station/Madison Square Garden.
I don't know if it still exists though.
Tomorrow I'll post on my feed @traveladdict about staying in literally a tin shack :) (no, not in NYC)
Haha awesome!! I look forward to that post! :)