The good: incredibly central location (3-minute walk from the Old Town Square) with plenty of things to do in the neighbourhood. The view over Prague's rooftops is spectacular.
The bad: the area is very very busy and there is occasional street noise. Cleanliness left a bit to be desired (hair found in one of the beds). The water heater is temperamental and we were unable to shower on the last day.
The ugly: the apartment needs a deep clean and some care (water stains on walls, grime around light switches).