Hey!
I dropped an application off in December to get a lease in September 2011. I applied for an 8 month lease because I knew it would be next to impossible to find someone to sublet during the summer months (there is not a high demand for summer sublets, and the students that do need somewhere to stay in the summer will find somewhere closer and less expensive than West Village).
I know a few people that are living there now and they love it!
When I dropped off my application I spoke directly to the manager, and she is incredibly nice.
I don't think there are really any problems. It is expensive, but I think it's worth it! I am really looking forward to living there next year