Right on the thick of it. You are basically steps away from the world famous Copacabana. The location is perfect is you want a lot of activity. There are a couple of great places right across the street to grab a bite to eat and a beer.
I must say that this was the cleanest apt we stayed in in Brazil, and we stayed in 4 different apartments. The pullout bed was very comfortable and Mariana had extra linen for it too.
I highly recommend this place.