> A private bed and storage space in lower Manhattan for say, $400 a month

It would likely be similarly priced to the article, i.e. closer to $1200/month.

I think that's the real downside of things like this: They're offering a pretty steep discount compared to what it would cost to, say, rent a studio in lower manhattan, but not a steep enough discount that it would be affordable for someone making minimum wage.

It seems like a poor alternative to just having roommates and living in Crown Heights, is what I mean.