We ( with wife and son) spent New Year's there. It was very close (walkable) to Jackson Square and the other places we wanted to see. The place was perfect for us. The noise from outside was understandable (It was New Year's festivities in New Orleans :) ). No problems with the place whatsoever.
If you need a place to stay close to everything at a good price, this is a good option.
I recommend it and will try again if available.