Great things about this small Istanbul hotel are:
- good location (you can walk to the main shopping street and there are plenty of restaurants, bars and nightlife spots in the area)
- very good value for money compared to other offers in the city
- nice, clean rooms
- friendly and helpful staff
- excellent breakfast at the rooftop terrace with amazing views of the city

Sadly I can't give this hotel a good review. First impressions were ok. However it was clear that, despite the bathroom having been newly upgraded with a jacuzzi bath someone had forgotten to repair the leaking soil pipe. The smell was horrendous! The management spoke poor English, unusual for this standard of hotel, which made communicating the problem difficult.
The restaurant/bar on the top two floors had fantastic views over the city and was one of the reasons I booked the hotel. However, when I went for a drink to admire the view I was told it was a restaurant only - another failure.
Local nightlife nearby was mentioned by others. It sure was nearby. The bar was directly below the window of my room and stayed open until 4.00am with loud music playing to the revellers.

I spent there a weekend at the end of September. The first impression when you enter the hotel is scary. the reception hall doesn't look like appropriate to the paid price and the sort of "boutique hotel" they promote in their ads.
But when you enter the room, the impression changes at all. The room is very nice furnished, very big and with free Wi-Fi also. Turkish breakfast is served on the top floor with a stunning view of the city. If you are up for a more western style breakfast or brunch, you can try the very nice café next door in the same building.

The area is very quite, compared to the caotic surrounding of the Beyoğlu neighborhood and in a 5 minutes walk you can reach the main pedestrian street (Istiklal caddesi) for window shopping and restaurants, or the Istanbul Modern and the Pera Museum, two very nice cultural spot if you get enough of the classical sightseen in Sultanahmet.
There is also a fabulous restaurant on the top terrace of a building two blocks far from the hotel. It is called 5th floor (Besinci Kat) and it has maybe the best view on the whole city ever. The food is great too and it's not expensive at all.

This hotel is not the most convenient place, but it's a good value for money for all the reasons mentioned above.

Stayed here Aug 09 for 4 nights with 4 late teenage children. The position was great with lots of local life and very few tourists in the surrounding area. It did get a bit noisy at night be we were too exhausted at the end of the day to worry about it. A good breakfast on a roof terrace with a view to die for - you can see all the sites while you eat. We had lots of great food but if you want cheap fresh local fish go to the outside tables at the north end of the bridge to over Sultanhamnet. It looks unappealling but was really really good.