We stayed at Daniel's apartment during Reveillon and I must say the location of it is EVERYTHING: only a few blocks away from Copacabana -where we went to see the fireworks- and Ipanema as well -where we pretty much spent all of our time at the beach.
The place is as simple as it looks in the picture.There's a bed, a desk, a small table and a wardrobe in the bedroom and a sofa bed as well as a chaise lounge in the living room - that's it. Ceiling fans work on both rooms but the AC is what does the difference, at least in the bedroom.
For most of the time we were just a couple, but we did share the apt with one more friend for a few days but we pretty much only used it to sleep during that time.
The kitchen is pretty small but it does it job, although we just cooked breakfast...
Overall, cost-benefit was positive for us especially because we went back to RJ for NYE and had one of the best times ever in the city.