First and most important, the location is wonderful. It's right around the block from the Duomo and a short walk to the Ponte Vecchio, the Mercato Centrale, Piazza Della Republica and the Accademia. Great restaurants nearby and don't miss lunch at the Mercato Centrale, where there's plenty to choose from. You do indeed have a great view of the Duomo from the balcony, a great place to have a glass of wine. Bring earplugs, though. It's no fault of Federico, but the voices of drunk tourists at midnight echo up the narrow streets and right into the upper reaches of the old buildings.