pros:
very short walking distance to small grocery stores, small coffee shops, and the famous Galata Tower.
uphill- walking distance to famous Istiklal Street and its shops, restaurants, money exchange, and telecom stores to buy sim-cards
long walking distance in Istiklal Street to get to Taksim Square to attend live music.
easy down-hill walk to go to the pier/ride a boat/ or catch the street trains to explore Istanbul.
Cons:
the street level occupants of the building sell shoes/purses/suitcases. they are relatively loud.
the kitchen is small, but functional. the refrigerator is very small. If you plan to cook for a family of 5 or more, you need to buy some cups, some spoons, a large pot, and a sharp knife. the dinner table can accommodate 4 people only. for a group of 5 or more, you need to use the sofa too.
My family and I had a great time in the flat. we cooked every day, ate in the dining area, and then went sightseeing.