The apartment is nicely renovated in a very central and lively area, with restaurants, bars, shops, sights all within walking distance. The apartment is not very large but was perfect for two of us. Be aware however that if you plan to bring a car, it is within the ZTL area (you will need to check when it's active), and street parking was difficult at the time we were there (early September). The kitchen was well equipped, and there is a washing machine for laundry. Wifi was very fast.
The neighborhood is full of bars, restaurants and designer shops. It gets very lively, and you will indeed hear street noise well into the night. It didn't bother us much, but for lighter sleepers this may be a concern.
Palermo was quite hot during our stay (35C), and the AC unit in the bedroom really struggled to cool the room. Filippo wasn't able to resolve it while we were staying but hopefully will have it checked out.