The location is perfect, and it's so nice with the balconies. We were welcomed with tips for the city by Elísio, Vitors friend, and it was really easy to check in and out.
It gets noisy during the night (we were there on a Friday), but that's no surprise given the central location, and we were warned about it in the comments and had brought earplugs. And we had no problems sleeping. The studio is very much like in the photos.