just got back from mine, and I stayed at Hotel 17. its a few blocks away, about 10 mins walking. I paid 141 after tax. small room, shared bathroom, but very clean. Id stay again
I heard from my friends that at Flushing may have cheap overnight stay. It's around 30-40 per night, own by Asians, and family style. If you can manage the transportation, take Subway 7 transfer to 4/5/6 line, then exit 24th Street.