The hotel is honest about itself - it's not fancy, but it is central, and has a history that adds something to your stay if you like that kind of thing.
Common area carpets are filthy, bedrooms are clean. The tiny narrow corridors, the decoration in common areas and the piano room are funky. It's interesting. I will recommend it to friends.
Do be clear, though, that the level of noise from the surrounding streets will make it almost impossible to sleep unless you have some serious earplugs.