Pros
None. Conveniently located is quite possibly the best thing that I can think of.
Cons
Agree with the "intern run sham" that was previously stated. This is an online "magazine" run by interns. There are no employees that are actually paid. No stipend, not even lunch compensation. Essentially, you are paying to have a horrible experience at this company. You're not managed by anyone other than Andrea, who doesn't know anything other than currently relevant photographers, so you can't actually learn. Andrea likes to gossip and make her interns try to turn against each other for her own amusement. I was treated with no respect and verbally berated by her. 3+ years after the experience, I still feel angry and violated at the treatment of myself and other interns while I was there.