Has anyone been here? It's at 129 Mott St (212 226-6666). I have been here a few times and they have fantastic sweet buns. One of the better melon cakes I've had and each bun is about 40 cents.
I think the red bean paste is best and the coconut is a close second.
Oh yeah - I'm pretty sure the sign doesn't say "Great New Hong Lock Yuen Bakery & Coffee Shop" in Western letttering, so just look for the address if you can't read chinese. I just grabbed one of their business cards.