Hostelling International New York

This budget lodging is actually the city’s only "real" hostel (a nonprofit accommodation that belongs to the International Youth Hostel Federation), but it’s also one of the most architecturally stunning. The gabled, Gothic-inspired brick and stone building spans the length of an entire city block. The interior is somewhat institutional and the immaculate rooms are admittedly rather spare, but they’re air-conditioned, and facilities include a shared kitchen and a large backyard. Linens and towels are free.