This is a great, big, sunny, airy, and open space. The location couldn't be better if you want to be able to experience Berlin like a local, and it's so well connected via public transit that you can easily and quickly get to the more touristy areas for sightseeing, etc. The Tram runs directly in front of the building with stops pretty much right in front, which also connects with another train line just one block away.
There are so many great restaurants, bars, little shops, etc. in the neighborhood that you could just stay in that one location and never get board! One of Berlin's best beer garden's, Prater, is just a couple blocks away, among other great gems in the immediate neighborhood.
The beds are quite comfortable, we all slept really well there. And if you have little kids with you like we did (3 and 6), they will enjoy playing with the toys in the big, open rooms - they really had a good time! MACH'sMit, a Berlin children's museum/discovery space, is also very close by - great for a rainy day. There is also no shortage of parks with playgrounds in the area (there are two options less than a block away).
Happy travels!