We stayed here nearly a week and had an enjoyable time. The building has a nice old facade, while the interior has recently been completely redone so everything is quite modern and clean. Very pleasant, attractive common areas.
The 24-hour security guard and electronic locks make getting in and out easy; no keys to worry about.
It's in a good location with two metro stations close by, and all of the Centro Histórico destinations within a half hour's walk. Another big plus is a full-sized grocery store a few blocks away, as well as a selection of street-food vendors and restaurants open late.
The surrounding neighborhood at first looked a little rough to the eyes of an American tourist, but actually turned out to be fine. We walked around in the evenings frequently, without the least bit of trouble.
Road noise inside can be a bit of a problem late evening/early morning, so bring a white noise generator or ear plugs if you're sensitive to that.