For the price hard to beat. Anthony at the front desk was very friendly and accommodating. Had a room on the 8th floor with a view toward the neighborhood to the south.
Walkability is obviously excellent, as is access to transit - the best in North America. Tons of shops, food, coffee, and everything else nearby and quick access to Manhattan via the J and the M trains.
Noise was minimal to none, and not noticeable on our floor on the 5 nights we stayed, even when the club downstairs was really active. If noise is a concern the upper floors should work well. The elevated train also was not loud at all from our room, as we were on the opposite side of the hotel from the train. Its location is in Bed Stuy near Bushwick, so if you're looking to experience a real NY neighborhood and not a postcard/sanitized version of it, this will be a great place for you to stay. This is NY, be aware of your surroundings, be respectful to the locals and your neighbors, don't go looking to cause a problem, and you'll have a great time.