We stayed at the Chelsea Savoy recently & can recommend it as an economical alternative. We paid in the low $200. It was clean, had a good location & even included a continental bkft (www.chelseasavoynyc.com)
I believe this is relative close to the east village, however not being from N.Y. I'm not entirely sure. Good Luck!!

Sorry I don't know how to post the link!!

I live in the east village and would not recommend the St Marks hotel. It is still a transient type hotel. Sorry, I don't have any suggestions in the immediate area- the east village is not a great area for hotels.

Oh, that's too bad to hear that the St Marks hotel is not too great. I kind of had that feeling. It looks like cheap and NYC just don't go together so I will most likely eschew the hotel and sleep on the floor w/people stepping over me. Thanks.

invest in an aerobed

The St. Marks has been rennovated recently and if you look at the website the rooms all look new. www.stmarkshotel.com.

If you want a first hand look, I'll go down and check it out for you.

Yes, I would greatly appreciate anyone in the area to go check it out. That would be too kind.

And for the person who suggested an aerobed -- it's not the comfort level that's a problem -- it's the size of the teeny NYC apt that's the problem -- I'm not even sure if there IS room for a bed -- let alone me and my husband and my friend that would be staying. That would be 5 adults, 3 kids (2 of them older teens) and a dog in a 4 room apartment.

Yes, you can get weekend rentals on Craig's list. http://newyork.craigslist.org/vac/

Some of them seem to be asking for just as much $$ as a hotel, but you probably get more space (and a kitchen). For 3 people, you could just get a 1-br if someone sleeps in the living room. It's not always clear from the listing if the resident is just renting out a room (and will be staying there too, in another bedroom), or it they're renting out the entire apartment. It sounds like you would definitely want something unshared/unhosted.

i came across this thread while looking for something else, but i couldn't help but mention that the st marks hotel website posted earlier is actually in bangalore, a long ways from the one in the east village! i used to live in NYC and i definitely remember st marks hotel as very transient. good luck!

Sorry the correct website is www.stmarkshotel.net and that give pictures of the inside of the hotel and the rooms which according to the the front desk of the hotel have been recently rennovated. I will head down there over the weekend and check it out.

1. Washington Square Hotel on Waverly Place, minutes from NYU.
I’ve stayed here several times, and always enjoyed it. Excellent location, clean, charming. Under $200/night.
http://www.wshotel.com/

2. The Larchmont Hotel on 11th Avenue is right around the corner -- another small, simple, European-style hotel, even less $$. Haven’t stayed there, but have walked by. I’d definitely consider it.
http://www.larchmonthotel.com/

Larchmont Hotel is on 11th Street--a big difference from 11th Ave.

Thank you, ellenem. Posting on too much caffeine this morning.

Tracy, i know exactlyu what you mean--loived in NY for 20 yrs, left, and now returned as a tourist.
For a bargain--i undersadn you'll be spending lots of timein E. Village--but the publinc transportatin is as good as ever, and maybe worth the trouble to get on bus or subway, if the hotel is a bit out of the area where your friend lives.
Some ideas: I booked the Affinia 50 for only$199. It's supposed to be a very good hotel ( perTripadvisor) and would be just a subway or bus ride down to your friend.
Have you checked Hotwire? Put in approriate NYC areas for your dates (listed on the left side of the webpage) Don't laugh (like i did-considering its reputation when i lived there) but Hoboken NJ (which H'wire list as a NYC area) has very inexpensive hotels listed.
You could take the PATH train easily to lower Manhattan.
Good luck!!

Apologies for above typos. Thinking of NYC puts fingers in a hyper mood.

Thanks for all that great help -- I really don't want to stay in Hoboken though --- (I lived there for 5 years) I really don't feel like trekking all the way across late at night -- and those PATH trains can take forever in the later hours.

I don't know -- even though I miss NYC everyday -- I guess I've gotten used to Midwestern prices.

Neither the WSH or the LH are hostels, & both are under $200. The WSH is $165/single. LH is much less ($80 & up), but you do have to share a bathroom.

NYC hotel prices have gone up a lot in the past few years - and also have become a bit scarcer, as some old hotels have been converted to condos.

With three of you, check into the possibility of an apartment.
antiquecafebb.com has four in Greenwich Village and two in Chelsea - sleep from 2-6 and range 190-240 night. These are apartments with kitchens, which makes it easier to save a few $ on extras. And breakfast is included. You could walk to those locations. Also just look at NYC listings at vrbo.com (vacation rentals by owner) and bedandbreakfast.com -

I was in NYC this weekend and noticed this hotel in an excellent location off Bowery on Rivington (across from entrance to uber cool Freeman Alley). Haven't been inside but the website indicates that it looks promising:

http://www.offsoho.com/