The apartment is comfortable and has everything one could ask for during an extended weekend stay. The old-town and all Tourist sites are easily reachable via Tram. We even walked everything on the first day and opted for Trams only later.
Matt provided us with very good information material about how to reach the apartment and tips for the immediate environment around the apartment. There are a number of bars and restaurants very close by.
All in all, we had a great time in Prague!