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As long as you stay away from the projects close to the East River, you'll be fine. There are TONS TONS TONS of people out in the East Village/ Lower East Side at night, probably more than anywhere else in the city after midnight; you will not feel even remotely unsafe.
I just looked up the place you're interested in, and there's nothing to worry about as far as the location (as a rule of thumb, stay west of Ave D if you're really concerned about safety). As for how good the place is, I'm clueless.
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