Great place right along Broadway in the Federal Hill section of the city. We spent one of our afternoons at the Rhode Island School of Design Museum - quite a remarkable array of collections on par with Boston, Miami, or New York. We could walk to restaurants: The Grange is not just "vegetarian friendly," as advertised, but is simply an all-Veggie menu, so be prepared if you select that establishment, but excellent nonetheless. Another restaurant to try and get into is Julian's, which is about 200 feet away from the apartment, however there was a huge line out the door for both dinner and then again for brunch the next day. We did not brave the lines, but will strategically attempt it on another visit. Another spot we tried (loved) was the intimate Broadway Bistro; not ideal for kids, but great for couples, foursomes, etc., and also within walking distance. But the best spot, if you factor in distance and tastiness is the Seven Stars Bakery, literally next door at 342 Broadway for daytime pastries and java selections.
All in all, a great apartment....lots of square footage, and indeed quite the sunny spot being on the third floor. If you can handle the steps (32...I counted), you'll love staying at 340 Broadway. If you don't choose this spot, that's OK, because it will leave more chance for availability for us the next time we visit.