Pros--fantastic central location, loads of good nearby restaurants and cafes, and very central for city touring. Also, Estudios went out of their way to facilitate early checkin for us, a big plus. Great view out on the Leoes fountain and square from the window wall in the main room.
Mixed--Three of the 4 of us thought the place fairly quiet despite all the early-morning activity spilling over from the University across the street. The lightest sleeper of our group of 4 was awakened once at 0400 with street noise, in the 5 days we stayed. It's the price of staying close to the nightlife in the city center, but worth noting, as a few (but not many) other reviewers have noted.
Cons--unsafe steep stairway to the first floor, with no hand railing (perhaps temporary during painting, but not remedied during our 5 day stay, and not acceptable for folks in their 60's). Also, on our last day, the door handle on the outside door fell off, it was intermittently impossible to get out of the building without a key, and only one key is supplied for this two-bedroom apartment. Hopefully, these issues will be fixed going forward. To be fair, we didn't ask Estudios to fix this latter issue while we were there, as we were checking out the next day anyway, and our apartment door lock remained completely secure and functional.