I am sure no snob; I am still a student and used to cheap accommodation; content with little; liked the location and area a lot.
I did NOT like the fact this hotel is infested with bedbugs (bloodsucking parasites in the mattresses; you do not see them, they fear light and react to body warmth at night, check them out on wikipedia; unfortunately I learned many NY hostels and hotels have them). You think you have mosquito bites until you get to see one bedbug after a few weeks (so weekend tourists are likely to not realize the hotel has them - but are in danger of bringing them to their own homes within their textiles and suitcases - they re almost impossible to get rid of even with professional help - NY Times had them on their headline in fall 2005).
I spent quite a few weeks in the hotel - believe me, you do not want to discover the bedbugs, mice in the rooms and kitchens, roaches, strange long-term residents, (really) dirty facilities, the poisonous smell in the rooms every time the exterminator visited (it suffocates you rather than the bugs)..
Do yourself a favour and do not consider Riverside nor Morningside Inn (same owner and staff, same issues).
I feel I have to share this here to spare others the bad experience I had there.