We stayed for three nights in December 2014. The hotel was in the perfect locations, you can walk everywhere and the street is off the main road with lots of restaurants and shops. You can see the Blue Mosque and Hagia Sophia from the hotel. The price reflects the hotel, it is a better youth hostel, with your own bathroom, but if you do not want to spend that much, this is perfect. The rooms are very small, including the bathroom, but clean enough for American standards. The breakfast is nice, again, the breakfast room is a little grimy. The walls and windows are very thin, so you can hear your neighbors and the restaurant noises. Someone is at the front desk 24/7 which is nice and make the place feel safe and they have free wifi.
I would recommend it to someone, who wants a cheap hotel, in a perfect locations, and who does not want to spend a lot of time in the room.