Fantastic location close to the metro and trams. You can be anywhere in the center city in <20 minutes on foot or by transit. So it's close, but it's not in the loudest parts of Prague 1. It's also great to have so many amenities in the area - shopping, bars, restaurants. You couldn't ask for a better location for sightseeing.
The apartment could use some extra maintenance here and there, but overall we enjoyed our stay.