We (6 guys) stayed in the Conde Barao Apartments for 3 nights over a weekend. The location is perfect. Its a handy walk (15 min) from Bairro Alto with plenty of places to eat and haed out for a drink nearby. Trams run from outside the door and there its an easy walk from Vintage 28 tram.
We headed around the time that the volcanic ash cloud played havoc with lots of peoples travel plans but the sfatt here were very helpful in assisting us as we nearly could not travel.
If you are a group apartments area serious "no brainer" as you have the flexibility and the extra living space to all hang out.
(Price wise it was great value as well)

What is the main purpose why you book a room or apartment in a foreign city? You want to get some rest and sleep between your tours. But you have a good chance that this will not work at all in the apartments conde barao. You can hear each step of other guests walking in their rooms above you or in the floor. If you even have the luck and pleasure to get russian neighbors who decided to have a party with techno music all night long it's probably better to save the money for the room and just go to the next nightclub to get some sleep there. The noise level is the same. If you call the "helpful" and "friendly" administration staff to complain they literally laugh at you, telling you it is completely your problem you should have called the police - haven't you noticed their number at the door.

5 of us stayed in the 3 bedroom apartment. The apartment was very clean and comfortable. There was plenty of natural light. Kitchen was pretty well equipped. Although reasonably close to everything, the apartments are in a run down area. There were many boarded up buildings in the area.

Check in was easy. You just punch a code in to retrieve your keys. They also gave us a late check out we'd requested last minute.

Some drawbacks:
- the free wireless internet connection was extremely slow and therefore not useful
- TV was grainy
- one room had no heating/cooling unit
- no daily cleaning service

When I didnt get an email confirmation of my stay I emailed them directly and they told me my oline reservation had not been made however they accommodated me at FGA Conde Barao (original booking was FGA Santos). They called me in London to let me know and I think they went above and beyond what many other hotels would do. They also accommodated my friend at short notice (day of arrival) and gave her the apartment right next to me so we had the whole floor.

The apartment itself was beautiful. Very clean and modern and spacious. I couldnt have been happier. Much nicer than an hotel room and very well priced. Each day I felt like I was coming "home". I had one of the rooms facing out back which had a little courtyard as well which was nice and quiet for a drink in the evening.

The neighbourhood, Barrio Alto, was all you expect in terms of rattling old trams and steep narrow street, very cute. Also good public transport to get out of Lisbon on day trips from Santos station 5 mins walk away. Overall I loved the apartment, loved Lisbon and couldn't recommend it highly enough.