The view is absolutely incredible. The space is a nice, modern apartment on the top floor of a high rise across from Southern Cross Station. It's fairly minimal in terms of furnishings and amenities, but it was totally sufficient for our short stay in Melbourne. Overall, I'd recommend it to a friend.
The location is a perfect base for exploring Melbourne's CBD and taking transit out to other neighborhoods. It's also very close to the SkyBus to/from the airport. Check out Higher Grounds on the same corner for great coffee and food (might have to wait a bit for a table).
Some other notes... I got the impression that there are tons of Airbnbs in this huge residential building. The only trouble we had was internet access: the wi-fi is basically unusably slow (provided with a range extender; the router must be in another unit), and I think we were too high up in the sky for reliable mobile service, so we were basically disconnected while in the unit.