These hotels all still have rooms for the entire conference period at the same price or less than the HotelPennsylvania:
130 EAST 57TH STREET
New York, NY 10022
215 W 94TH ST
New York, NY 10025
4 WEST 31ST STREET
New York, NY 10001
(this one is very close, but quoted rates of $140 for July 8, $160 for the other days - MCR.2004-Jun-07)
Update: I just got a room for the night of July 9th for $100 - RD.2004-Jul-08
West Park Hotel
NO 6 COLUMBUS CIRCLE
New York, NY 10019
(this one is 20 blocks north, but is only $91/night - MCR. 2004-Jun-07)
Comfort Inn Central Park West
31 WEST 71ST ST
New York, NY 10023-4103
429 PARK AVENUE SOUTH
New York, NY 10016
There are many more plus you can go through such services as Travelocity, Orbitz, and Expedia to find good prices at nearby hotels. You may even be able to still get rooms at the HotelPennsylvania through these services!
Despite the name, these low-cost options are available to travelers of any age. Accommodations are basic: usually just a bed and a bit of storage space in a room shared with a few other people. But they're quite affordable, and you really want to spend all your time at the conference or elsewhere in the city anyway. Be sure to make reservations in advance if you can, as many of these places fill up during the busy summer months.
Hostelling International New York is the best-known hostel in the city, part of the reputable Hostelling International network. It's located on Amsterdam Avenue near 104th Street, about 25 minutes from the HotelPennsylvania by subway.
Hostels located relatively close to the HotelPennsylvania include:
Big Apple Hostel, 119 W 45th Street
Chelsea Center Hostel, 313 W 29th Street
Manhattan Inn Hostel, 303 W 30th Street
Further lists of hostels in New York are available from Hostels.Com.