This place is the real Istanbul. The location is excellent. It's right in the heart of a thriving neighborhood full of shops, cafes, restaurants and places to go out. It's a beautiful old building in a beautiful neighborhood. You can walk easy to Galata, and across the bridge to the Ayasofia and other attractions. I was also able to walk to the bus from Taksim square to get to the airport.
I'll say also that the neighborhood is loud. This is the real Istanbul experience so expect to fall asleep hearing the bustle and energy of your neighbors late into the night.