I travel to Brazil with some frequency and rent apartments there. If you are going to Rio you should be prepared to receive less for your money than you might expect.
This apartment is definitely well above average. The location is excellent in terms of access to the beach, the metro, groceries, and restaurants, bars, etc. The little park across the street hosts a number of interesting fairs during the week as well. It is in Ipanema proper, not Copa or Arpoador, and should command a higher price. The furnishings are well above average for Brazil. There is relatively a lot of space, and the bedroom is separate and has a nice AC. The kitchen/living room is well equipped as well. This area cannot be cooled well because the windows cannot be closed. Levy says this is a Brazilian regulation because of the gas water heater and stove, and this sounds about right for Brazil. There is a washer, and a small clothes drying rack above, and a second toilet. Everything works well in the kitchen. All this is very good.
On the downside the sofa is possibly the most uncomfortable I have ever sat in. It is hard and if you lean back it wants to unfold into a bed. The TV receives no English channels, although occasionally you might find one show in English. No sports either. There is no outside view, but the windows allow good light.
Levy himself is very helpful and ready to provide you with helpful advice and guidance for the area. He wants you to enjoy your stay. Believe me, this is a rarity.
I also recommend the BnB structure which allows you to pay by credit card. Almost all apartment owners in Rio want you to pay in cash in advance with American dollars or Euros. You have little recourse if you have problems, and the rental agencies will almost always side with the owners because that is how they make money. Be very careful! Scams are common.
All in all, I would say this is one of the best values I have received in Rio in my many travels. I would stay there again, and I recommend this owner highly. 4 stars is a high rating for me. I don't think I have ever experienced "excellence" in Brazil in terms of lodging, even at much higher prices or in hotels. This apartment is pretty close to as good as it gets, at least in anything remotely close to this price.