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The Gershwin Hotel in Chelsea has dorm-style rooms for about $60/night. 3 bunkbeds a room, very clean, each room has a bathroom with shower. I stayed there my first night in NYC before the room I was renting in Brooklyn was ready. I'd say the Gershwin is probably your best bet. And its design is cool, if you're into that.
Oh, also, there's a ton of sex shops and porno booths in Chelsea, so if you're into that, you'll be close.
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