Taxi from Israel Lewites Terminal to Barrio Martha Quezada

BE VERY CAREFUL in Managua leaving from one bus station to another. Also, Barrio Martha Quezada is well known for its crime against gringos. I'd guess no more than $5, but I would more concerned of the safety than the cost. Is there any particular reason you need to spend a night in Managua?

Managua is unavoidable for me at this point. A friend of mine will be flying in early the next day. I have a hotel already chosen for my first night stay and then a shuttle is provided from my second night stay hotel that will get me to the airport to rendezvous with him. Is a walk from Hotel Los Felipe to the Crown Plaza, during the day with my gear, also a bad idea? Any other creative ways to get from terminal to hotel?
thanks for the reply.

"Is a walk from Hotel Los Felipe to the Crown Plaza, during the day with my gear, also a bad idea?"

YES!!!!

Get a taxi!!!

While Managua has lots of safe corners and does not always deserve the bad press it gets on these boards, the area around the Crown Plaza and Martha Quezada have become a bit of a hotspot for crime against tourists. So no, don't walk with your pack there even during daytime.
If you pick up a taxi, check first if it has license plates. If it doesn't, wave it along with a polite smile. Then check or ask for the driver's identification plate. By law it must be clearly visible on the inside of the windscreen, and bear the photo of the driver. Check if the photo and the driver's face match. There are lots of taxis that are being lent to friends/family, so very often that ID plate is missing. That does NOT necessarily mean that the driver is a crook though, but you should still put safety first.
If you go through the whole spiel above, you will get drivers speeding off angrily, but eventually you will find a nice cabbie that is aware that taxi safety is an issue in Managua, and will be happy to prove to you that he's genuine.

Why are you staying in Martha Quezada? You don't mention needing to taking an early Ticabus, etc, so I don't think there is any need. Backpacker's hostal is in a good area (near metrocentro), to name one option of many in safer parts of Managua. From Chinandega you are much better off taking the microbus to la UCA instead of the regular bus to Levites. At la UCA you are less likely to have a criminal "cabbie" waiting to pick you up as there are dozens of cabs whizzing by on the busy street where the bus stop is, and you will be close to much better and safer areas to spend the night, with a range of prices. In my opinion it is not worth offering extra money to cabbies not to pick up additional passengers because those types of robberies are preplanned with the cab driver, so he will pick up his buddy to rob you no matter what, and they know what they will find in your huge backpack or even just cash on you is worth a lot more than the extra couple dollars you offer. For that reason, in addition to the very good recommendations above, don't take a cab waiting stationary at a bus terminal or elsewhere, but one passing (i.e. moving) by on the street. Be safe. don't go the Martha Quezada.

DO NOT STAY IN MARTA QUEZADA. DO NOT.
There are other places within a budget and close to everything, for example Managua Bac`packers inn, and there should be others as well. Going by taxi from there to Tica Bus or any other bus station is not expensive at all.