Great location. Right down the road from Galata Tower. A short walk to the water, and across the bridge is the Bazaars. Do yourself a favour and invest in an Istanbul Metro card to explore farther. Great shops within walking distance. Be prepared to loose some weight and develop strong legs walking around here. Note, the A/C is central, so you can run the small fan to spread the cool air around. Also, the stairwell can be dark, so either walk slowly until the motion lights kick in or use your mobile phone flash light.