Hit and Miss
This is a very difficult hotel review - some aspects were great and others disappointing. On arrival it felt very dark and shabby chic. Check in was completed quickly and we were directed to our room on the 6th floor. 
My immediate reaction was that the room (and the bed) very small. Above the bed was a medieval type canopy and most irritating for me was that there was no bedside cabinet on one side of the bed (it was adjacent to the wardrobe) and no reading light to use when in bed. The TV was in a cabinet and if the doors were open (to view TV) it was difficult to get past. We did ask reception if it would be possible to pay for an upgrade but were told the hotel was full. Other rooms we looked in on our coridoor when passing were considerably larger than ours which was more suited for one person than 2. The bathroom was a good size although the side of the bath was unusually low so it wasn't possible to enjoy a nice relaxing soak because the water level was too low.
The hotel holds a complimentary wine tasting between 5-6pm each evening - this was well attended during our stay. It was a nice touch after a day's sightseeing. There's a lounge to relax with a wonderful baronial style fireplace and comfy armchairs. They also serve coffee in the morning in the same room.
As has been mentioned by others there are lots of down and outs on the streets around the hotel though they didn't cause us any problems. The location is close to Union Square which is good for picking up tourist buses and for shopping. We found a good diner along the road for lunch/breakfast but struggled to find any nice restaurants for evening meals within walking distance. 
Overall I would rate this hotel as good, better than average but this isn't an option when reviewing, so I would score is 3.5 out of 5.