The view is worth every penny. My sister spent hours waving at the passing gondolas and boats. There is a HUGE living room but I must admit we spent most of our time at the windows.
The neighborhood offers everything one needs and we enjoyed wandering through it. The plaza below can get a little boisterous (there was a wedding and graduation parties while we were there) but closing the shudders and windows at night did drown out the noise.
Four of us had ample room in this massive apartment. We enjoyed the lovely antiques and the feel of being in a private home.