This is the perfect location from which to explore Florence. Really close to the Duomo, the central station and opposite the market with its fantastic food hall upstairs (open until Midnight). The only thing that you need to be prepared for is the noise from the market early every morning. For city-dwellers, this is probably not an issue, but if you are a light sleeper, earplugs are a must!
Having said that, we'd definitely stay again, so it's not a deal-breaker. The accommodation is full of character, well laid out and has all you need for an enjoyable trip to such a beautiful city.