If you're looking for a good value base for exploring the old city on foot, this has to be hard to beat. I got a bright, modern-ish room with big windows, at the end of the corridor away from the stairs so I can't really comment on noise, facing onto a quiet side street. Everything worked, shower was good. A/C possibly a bit noisy and not hugely effective, i didn't really use it. Windowless basement breakfast room possibly less than inspiring but breakfast buffet was varied and plentiful, good fuel for a days exploring. Staff courteous if unsmiling, that doesn't bother me at all. The location just a couple of minutes walk from the tram stop is brilliant - the M1 tram is the most modern and useful route to get around the city, and the Istanbulkart system is world class and extremely good value.
Overall I would definitely recommend it, but I have very simple tastes and luxurious decor and frills don't interest me !